Dear Sirs,
We had received a Purchase Order for supply of IT Hardware goods in February 2017. With the delivery Date being 05/07/2017.
The Purchase Order Had Expired after this date due to site readiness issues at the customer end.
The Purchase order was amended so that the delivery can be carried out. The revised purchase order mentioned SGST 9% and 9% CGST applicable with the purchase price remaining the same.
Based on this the materials were delivered to the customer on 19/03/2018.
While we had submitted our invoice for payment realization, the customer has with held the Tax component and released the base value of the product.
The reason behind it is they would want credit as PO was placed during the VAT regime.
Request you to please advise on the validity of this demand by the customer and his holding of the taxes.
On our part since they had issued a revised PO we had purchased the goods under the GST regime for the whole chain (Supplier, Distributor and Importer)
Please let us know if the customer is correct in his claim that it attracts anti profiteering clause.
Warm regards,
CAclubindia
