umesh hegde asked 6 years ago
Input Tax Credit
I am a registered person. I supply the goods to another registered person and I received some other goods from that person. In that case, is it compulsory that payment should be made separately? or can I adjust the payment against received goods?
1 Answers
Neeraj Kumar Rohila answered 6 years ago
You can adjust the amount. But the returns should be filed with the full amounts. Also, the Invoice amount should be the same(Before such adjustments).
For Example – A and B, Both trade with each other. B purchase from A goods worth 100 rupees and A purchase from B goods worth 60 rupees. The invoice amounts will remain, 100 and 60, will also be entered as it is in the returns. But payment can be made by B to A of 40 rupees.
