Home Forum Goods and Services Tax - GST Month 7 2020 2020 (7) This
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Non-payment of Invoice within 180 day - Goods and Services Tax - GSTExtract Non-payment of GST within 180 day:Non-payment of GST within 180 day: We have an MOM with Vendor on supply of machinery and its maintenance with payment terms and condition. Vendor give invoice deposit GST to Government. After that we take ITC. As per GST Rule, We have to pay to Vendor within 180 days. But our Payment terms we have to pay i.e. partial in six month, one year and balance in two year. Question :- 1. Whether we have to reverse the GST, if we not pay to vendor in six month? 2. How we will get credit after Two years? 3. Please guide the exact language or wording to written in the contract to avoid these problems in future?
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