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of <h1>Nonpayment to supplier within 180 days mandates reversal of proportionate input tax credit, interest; Section 16(4) allows re-avail on payment</h1> Where a registered person has claimed input tax credit on inward supplies (other than reverse-charge supplies) but fails to pay the supplier the value of the supply, wholly or partly, together with applicable tax within 180 days of invoice issue, the registrant must reverse an amount equal to the credit availed (proportionate to the unpaid amount) and pay interest while filing the return for the tax period immediately following that 180-day period. If the registrant later pays the supplier the value and tax, the reversed credit may be re-availed, and the time limit in the relevant provision does not bar such re-availment.
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