Home Forum Goods and Services Tax - GST Month 9 2019 2019 (9) This
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Input tax credit on payment under section 73 (5) - Goods and Services Tax - GSTExtract Kindly advice on the following issue: Can a taxable person take input credit of tax on amounts paid on the basis of his own ascertainment under Section 73(5) of the CGST Act ? If so, what is the last date for taking such credit ? (kindly refer to Section 16(4) of the CGST Act ? Is any penalty leviable under section 73(11) of CGST Act or Section 125 of the CGST Act ? The tax has to be paid vide Adjusting the amounts in current month GSTR-3B or DRC-03 ? If Tax is paid vide DR-03 , then the input tax credit be taken by declaring in the GSTR-3B in the subsequent month ? Note: This amount relates to tax on reverse charge not paid earlier by oversight.
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