Input tax credit reversal required when payment to supplier is not made; re credit allowed on subsequent payment; returns and forms adjusted The amendment revises compliance categories, removes references to FORM GSTR 2, shifts reporting and reversal of input tax credit to FORM GSTR 3B, and prescribes that a registered person who avails input tax credit but fails to pay the supplier within the statutory period must pay an amount equal to that credit with interest through FORM GSTR 3B, while permitting re availment of the credit upon subsequent payment to the supplier.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Input tax credit reversal required when payment to supplier is not made; re credit allowed on subsequent payment; returns and forms adjusted
The amendment revises compliance categories, removes references to FORM GSTR 2, shifts reporting and reversal of input tax credit to FORM GSTR 3B, and prescribes that a registered person who avails input tax credit but fails to pay the supplier within the statutory period must pay an amount equal to that credit with interest through FORM GSTR 3B, while permitting re availment of the credit upon subsequent payment to the supplier.
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