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Whether principal has to reverse the input tax credit on inputs which have not been received back from the job worker within 180 days?

QuestionsCategory: GSTWhether principal has to reverse the input tax credit on inputs which have not been received back from the job worker within 180 days?
Profile photo of AditaPareekAditaPareek Staff asked 9 months ago

Whether principal has to reverse the input tax credit on inputs which have not been received back from the job worker within 180 days?

1 Answers
Profile photo of JayeshMehtaJayeshMehta Staff answered 9 months ago

Yes, the principal has to reverse the credit along with interest on inputs which have not been received back from job worker within 180 days but he can reclaim the credit on receipt of inputs.