credit of the gst by supplier of goods, when the payment is not recd beyond 180 days.

[TAKSHESH SHROFF]

If the payment of supplier of goods is out standing for more than 180 days can he claim the GST charged by him in the returns due after the period of 180 days, from the date he has raised invoice and paid the GST also according to invoice. if yes how to declare the same in GSTR-3B , as Input tax credit or Reduction from taxable Turnover and accordingly form GST.

Since the receiver of the goods are required to reverse the GST if he does not make payment within 180 days.

[KASTURI SETHI]

Yes, after payment ITC can be taken. For reversal fill column B(2) of serial no. 4 of GSTR 3 B . You will also fill check list at the start of filing the return. If check list is correctly filled, the Common Portal System will automatically take you in the Electronic Credit Ledger and then you can debit reverse the ITC. Only after reversal of ITC, the system will allow you re-credit. Re-credit can be taken 4 (A) (5).

I am not computer expert. I have functional knowledge of computer.

AI Summary

Input tax credit re claim: supplier may re credit GST after receiving payment and reversing earlier credit. When a recipient reverses input tax credit for nonpayment, the supplier may reclaim the Input Tax Credit only after receipt of payment and after discharging the invoice tax; the supplier must record the reversal in the designated GSTR 3B reversal field, complete the return checklist to access the Electronic Credit Ledger for debit, and then use the specified re credit entry in GSTR 3B to re claim the credit once the system permits.