https://www.taxtmi.com/forum/issue?id=116280 If a recipient fails to pay the supplier within the prescribed period after availing ITC, the recipient must add an amount equal to that ITC to output tax liability and reverse it in the return, and pay interest from the date the credit was taken until the date of reversal. The practical step is to reverse the ITC in the next return and discharge interest for the period of non-payment; commentators note that where payment was later made, only interest is typically required. en-us Sat, 09 May 2020 15:06:11 +0530 Thu, 23 Jan 2025 15:54:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=116280 If a recipient fails to pay the supplier within the prescribed period after availing ITC, the recipient must add an amount equal to that ITC to output tax liability and reverse it in the return, and pay interest from the date the credit was taken until the date of reversal. The practical step is to reverse the ITC in the next return and discharge interest for the period of non-payment; commentators note that where payment was later made, only interest is typically required. Discussion-Forum GST Sat, 09 May 2020 15:06:11 +0530 https://www.taxtmi.com/forum/issue?id=116280