Rajinder Agnihotri (Working as tax consultant ) (41 Points)
12 February 2022Sir
We have agreement with supplier as and when payment received from Market than further payment of supplier be send. Please clarify in this case also we have to reverse input tax
CA Puja Sharma
(Chartered Accountant)
(4969 Points)
Replied 12 February 2022
Yes, you have to reverse the ITC if payment is not made the supplier in 180 days.
You can again claim the ITC when the due payment is made to the said supplier.
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