We are pleased to share that our article, “Reply to SCN for Reversal of ITC – Non-payment of Tax by the Supplier,” has been published in the September 2022 edition of the ICAI-GST Newsletter. In this comprehensive analysis, we examine the intricate issues surrounding the reversal of Input Tax Credit (ITC) due to the non-payment of tax by suppliers, a critical concern for businesses in the current GST framework.
The article offers an in-depth exploration of how businesses can effectively respond to a Show Cause Notice (SCN) in such cases, addressing the legal complexities and providing practical guidance on mitigating the risk of ITC reversal. With GST compliance being an ever-evolving challenge, our insights aim to equip tax professionals and businesses with the knowledge necessary to navigate these issues with confidence.
We encourage you to read the full article for a detailed understanding of the key steps and considerations when managing ITC claims and responding to SCNs. This piece is an invaluable resource for anyone seeking to stay informed on best practices in GST compliance.
