https://www.taxtmi.com/forum/issue?id=116498 A supplier queried recovery of unpaid invoice amounts where buyers have taken input tax credit. The replies state buyers must reverse input tax credit if they do not pay within the prescribed period, and that GST law does not provide a mechanism for suppliers to collect sale proceeds; Section 9(1) CGST establishes tax liability/collection from the recipient but does not enable supplier recovery of consideration. The MSMED Act is suggested as a potential non GST remedy. en-us Sat, 20 Jun 2020 18:02:49 +0530 Thu, 23 Jan 2025 15:54:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116498 A supplier queried recovery of unpaid invoice amounts where buyers have taken input tax credit. The replies state buyers must reverse input tax credit if they do not pay within the prescribed period, and that GST law does not provide a mechanism for suppliers to collect sale proceeds; Section 9(1) CGST establishes tax liability/collection from the recipient but does not enable supplier recovery of consideration. The MSMED Act is suggested as a potential non GST remedy. Discussion-Forum GST Sat, 20 Jun 2020 18:02:49 +0530 https://www.taxtmi.com/forum/issue?id=116498