https://www.taxtmi.com/article/detailed?id=8502 The Authority held that a recipient may discharge consideration to a supplier by setting off book debt and may claim input tax credit when consideration is paid by book adjustment. Although payment into the Government electronic cash ledger must follow prescribed electronic modes, the Act does not expressly prohibit book adjustment settlements between supplier and recipient; the entitlement to credit remains subject to the statutory conditions, restrictions and reporting requirements, and to reversal where payment is not made within the prescribed period. en-us Tue, 14 May 2019 07:31:09 +0530 Tue, 14 May 2019 07:31:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=8502 The Authority held that a recipient may discharge consideration to a supplier by setting off book debt and may claim input tax credit when consideration is paid by book adjustment. Although payment into the Government electronic cash ledger must follow prescribed electronic modes, the Act does not expressly prohibit book adjustment settlements between supplier and recipient; the entitlement to credit remains subject to the statutory conditions, restrictions and reporting requirements, and to reversal where payment is not made within the prescribed period. Articles Goods and Services Tax - GST Tue, 14 May 2019 07:31:09 +0530 https://www.taxtmi.com/article/detailed?id=8502