Input availed but not utilised

[Vinod Maheswari]

I have availed IGST Input Credit of ₹ 500000 in August 2017 . out of this I have used IGST credit of ₹ 200000. Now in January 18 I came to know that ₹ 300000 credit was wrongly availed. Now my question is

if I am reversing IGST Credit by my self than I have to pay Interest or not . Please quote the Section or rules in your answer.

I have read section 73,74, section 42, 43 in which they say that interest is payable on wrongly availed input but all these section define regarding time when offence in come notice of department/System.

So Please clarify whether in GST Interest is payable just of Input taken or its payable on Input taken and utilsed.

AI Summary

Interest on wrongly availed input tax credit is payable from date of wrongful availing until reversal, even if voluntarily reversed.
Whether interest is payable on wrongly availed IGST input tax credit and whether it applies only to utilised credit or to the entire availed amount. The document notes statutory provisions requiring payment of interest on delayed tax or on undue or excess input tax credit, prescribes interest calculated from the date the credit was wrongly availed until reversal, and records a competing view that rectification rules and portal-detection provisions may bear on voluntary reversals.