Dear Sir,
while payment to vendors we withhold the specific portion of amount as Retention money as per contract. is in this case also we will have to reverse the tax portion if payment not made within 180 days?
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Retention of GST on Retention Money
Replies (3)
I don't. think so
Please specify the reason.
Yes... Will be reversible the tax portion of the payment not paid 180 days. After payment we can utilize the credit...
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