Home Forum Goods and Services Tax - GST Month 9 2023 2023 (9) This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Applicability of ITC Reversal in case of Retrospective Cancellation of Registration of Suppliers - Goods and Services Tax - GSTExtract As a registered taxpayer, we have duly availed the ITC (Input Tax Credit) from our various suppliers of goods complying with the provisions of Section 16(2) of CGST Act, 2017 i.e. We have received the invoices. We have received the goods along with the delivery challan, weight slips, e-way bills, and transporter details including the Vehicle Number and Driver Details. The Supplier has duly filed the GSTR-1 GSTR-3B . The ITC is being duly reflected in our GSTR-2A / 2B . We have duly paid the payment to the suppliers within 180 days. Therefore, the ITC has been availed only after the compliance verification of the above provisions and we have not availed any credits ineligible under Section 17(5) of the Act . However, currently some of the supplier's registration number has been cancelled suo-moto retrospectively i.e. they have filed the returns let's say till Mar 23 however, the date of cancellation shown on the GST Portal is Dec 18. Opinion Sought : - The Supplier's registration currently is being reflected as cancelled suo-moto on the GST Portal effective date of which is prior to the period of their filed returns. Therefore, we hereby seek an opinion as to whether we shall be legally subject to reversal of ITC for the period where the supplier have filed their GSTR-1 GSTR-3B and such ITC is duly reflected in our GSTR-2A ?
|