Output Tax
subhagan sreerangam (7046 Points)
05 April 2018subhagan sreerangam (7046 Points)
05 April 2018
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 05 April 2018
You can reverse ITC if payment is not made within 180 days.
Suvendu
(Accounts)
(429 Points)
Replied 05 April 2018
if material delivered , this is your bad debt,show in p/l. your debtor's input credit will be reversed if payment not done in 180 days.
Rahul Prajapati
(Student)
(2282 Points)
Replied 05 April 2018
If you dont received payment within 180Days you can reverse entry.
Pass a Sales Return Entry.
At the time of filing of GSTR-3B Reverse Taxes Paid.
In Eligible ITC<(B) ITC Reversed<(2) Others.
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