180 DAYS INPUT REVERSAL

Is Blocking of ITC on Non-Filing of GSTR-3B by Supplier Correct??

Reversal of ITC on Creditors Written off

GST, TC / By Anil Kumar Tenneti / April 17, 2021 October 14, 2021 / 180 DAYS INPUT REVERSAL, 180 DAYS REVERSAL ON WRITTEN OFF, CREDITORS 180 DAYS ITC, CREDITORS WRITTEN OFF-ITC, INPUT TAX CREDIT ON CREDDITORS WRITTEN OFF, RULE 37, SEC0ND PROVISO TO SEC 16(2)

Section 16 of the CGST Act deals with the provisions related to availing of Input tax credit under GST. As per second proviso to Sec 16(2) read with rule 37- If a recipient fails to pay to the supplier within 180 days, the Input tax credit availed on such supply needs to be reversed. Provisions …

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