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.

AI Summary

Guidance on Claiming GST Credit After 180 Days: Reverse in GSTR-3B, Re-credit in Section 4(A)(5). A supplier inquired about claiming GST credit when payment for goods remains unpaid for over 180 days. The issue involves whether GST charged can be claimed in returns after this period and how to declare it in GSTR-3B. The response clarified that after payment, Input Tax Credit (ITC) can be claimed. To reverse the credit, fill column B(2) of serial no. 4 in GSTR-3B. The checklist must be correctly completed for the system to allow re-credit in the Electronic Credit Ledger, which can be taken in section 4(A)(5).