https://www.taxtmi.com/forum/issue?id=115910 Where a recipient fails to pay the supplier within the prescribed period from the date of issue of the invoice, the recipient must add an amount equal to the input tax credit availed to his output tax liability along with interest. The statutory provision specifies that the time-limit is counted from the invoice date and that interest is payable from the invoice date, a rule which prevails over any contrary provision commencing interest from the date of availment in books. Reversal prior to the period's expiry does not avoid interest for the period up to reversal. en-us Mon, 20 Jan 2020 16:06:21 +0530 Thu, 23 Jan 2025 15:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=115910 Where a recipient fails to pay the supplier within the prescribed period from the date of issue of the invoice, the recipient must add an amount equal to the input tax credit availed to his output tax liability along with interest. The statutory provision specifies that the time-limit is counted from the invoice date and that interest is payable from the invoice date, a rule which prevails over any contrary provision commencing interest from the date of availment in books. Reversal prior to the period's expiry does not avoid interest for the period up to reversal. Discussion-Forum GST Mon, 20 Jan 2020 16:06:21 +0530 https://www.taxtmi.com/forum/issue?id=115910