Become Govt. Certified GST Practitioner in just 58 hrs. Register Now!

section 17(5)(i)

Sunish (Freelance) (168 Points)

10 June 2018

this blocked credit relates to tax paid under sec74,129and 130

the query is - are they referring to the tax paid by the supplier or receipient of supply?

Reply
Follow
Share

5 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (183108 Points)
Replied 10 June 2018

Supply receiver who had paid the tax on the supplies, eventually affected by these events.......

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

Pankaj Rawat (GST Practitioner) (55052 Points)
Replied 10 June 2018

As per Section 74 : Both SUPPLIER (Where it appears to the proper officer that any tax has not been paid or short paid) & RECEPIENT(where input tax credit has been wrongly availed or utilised by reason of fraud, or any willful-misstatement or suppression of facts to evade tax,)

As per Section 129 & 130: SUPPLIER

1 Like

Sunish (Freelance) (168 Points)
Replied 10 June 2018

In case supplier pays the tax u/s 74,129 or 130, where is the question of ITC for the receipient , nothing has gone out of the receipient's pocket in the first place in order to avail credit later?