"WE ARE TAX CONSULANT LIKE GST RETURN, GST REGISTRATION, ITR, TDS RETURN, COMPANY INCORPORATION AND OTHER LEGAL WORK."
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The law related to payment of consideration (value along with tax payable) to the vendors within 180 days from the date of issue of invoice failing which the recipient is burdened with the liability to pay back the amount of ITC availed, proportionate to the unpaid amount, along with interest has always been a subject matter of discussion.
This is a new condition which is to be satisfied for availment of input tax credit. In GSTR-2B, if the ITC appears in Restricted category, the same cannot be availed by the registered person. Cases where the ITC can be restricted under GSTR-2B has been discussed in Section 104 below.
