TIME LIMIT TO MAKE PAYMENT TO SUPPLIERS

[SURYAKANT MITHBAVKAR]

Under GST regime we avail input credit as soon as Goods received in our premises/factory.

Please let us know what is time limit to make payment to the suppliers though our credit is not disallow.

AI Summary

Time limit for supplier payment is essential to preserve input tax credit; non-payment triggers credit reversal and reporting obligations.
A recipient who avails input tax credit must pay the supplier within the specified period from the invoice date or else add the proportionate input tax credit back to output tax liability with interest, and furnish details of the unpaid supply and credit in the prescribed return for the period immediately following expiry of that period.