If recipient fails to pay supplier in 180 days, he loses ITC and interest

However, interest is a loss that you cannot get back

A person who provides services to us says that under the GST laws we have to pay him within six months. We are in financial difficulties. How can we cope with this situation?

The second proviso to section 16(2) of the CGST Act, 2017 says that where a recipient fails to pay to the supplier of goods or services or both, other than the supplies on which tax is payable on reverse charge basis, the amount towards the value of supply along with tax payable thereon within a period of 180 days from the date of issue of invoice by the