TaxTMI 
TaxTMI 
Supplier has reversed the ITC of invoice after receiving payment.
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....upplier has reversed the ITC of invoice after receiving payment.<br> Query (Issue) Started By: - SANJEEV AGGARWAL Dated:- 12-8-2021 Last Reply Date:- 13-8-2021 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>One of my supplier supplied a material in June, 2021 for which total payment was made within 3 days. The supplier duly uploaded the invoice in June, 21 GSTR-1 & ITC was duly availed in....
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.... our June GSTR-2A. Only one invoice transaction took place with him. In july, 2021 when we were matching our GSTR-2A, we were shocked that he has reversed ITC vide Credit Note although no Credit Note was given to us & no eway bill is there against that credit Note. He has not even filed GSTR-3B for month of June, 2021. This seems to be a fraud on us. Now what is the remedy available to us. Whether....
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.... any criminal complaint can be filed against him so as to set an example for others. Kindly advise. Reply By KASTURI SETHI: The Reply: You want to teach a lesson to your supplier with an intent to set an example for others. In my view, try to resolve the dispute amicably. If you resort to police action against the supplier, you will lose more money, time and energy. You will earn tension. Peace ....
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....of mind is more important than teaching a lesson any person. In future, select your supplier carefully. This is right approach. Reply By Shilpi Jain: The Reply: Have u cross checked first with the supplier why a credit note is shown in ur GSTR-2A. This is just to ensure that no error has happened at his end while filing returns. If no proper response from him consider writing to his and your ....
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....jurisdiction officer regarding the details of this. This is to ensure that the dept gets a chance to follow up with vendor before asking u to reverse credit. This will also be a good defense for u. Reply By KASTURI SETHI: The Reply: It is a dispute between the seller and buyer. The department will intervene/reacts only if the supplier has evaded GST and any person lodges a complaint with the dep....
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....artment with documentary evidence against the evader.<br> Discussion Forum - Knowledge Sharing ....