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Reversal of input tax credit in the case of non-payment of consideration

Rule 37 - Rules - Input Tax Credit - Central Goods and Services Tax Rules, 2017 - Rule 37 - 37. .- (1) A registered person, who has availed of input tax credit on any inward supply of goods or services or both, but fails to pay to the supplier thereo .....

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credit availed of proportionate to such amount not paid to the supplier in FORM GSTR-2 for the month immediately following the period of one hundred and eighty days from the date of the issue of the invoice: Provided that the value of supplies made .....

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n accordance with the provisions of clause (b) of sub-section (2) of section 15 shall be deemed to have been paid for the purposes of the second proviso to sub-section (2) of section 16] (2) The amount of input tax credit referred to in sub-rule (1) .....

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