ITC Impact

ITC / Input 141 views 2 replies

37 Points Joined September 2017

impact of ITC claimed by recipients incase where gst registrations of supplier cancelled & he has not filed returns
kindly advice.

Replies (2)

GST Practitioner

55067 Points Joined June 2017

Need to reverse the ITC & liable to deposit with interest 24% .
(Refer Section 155 of CGST Act)

7059 Points Joined January 2017

Good idea is that reverse the ITC and liability to deposit with an interest @ 24% pa as per Section 155 of CGST Act.

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