https://www.taxtmi.com/forum/issue?id=117271 Failure to declare a reverse charge liability but depositing tax in the cash ledger and availing input tax credit raises risk of credit reversal, penalty for irregular availment and interest liability; authorities may contend credit was improperly availed if not formally adjusted in returns, though evidence of recipient invoices/payment vouchers and actual payment to government (including belated DRC-03 adjustments) supports defence; paying interest may mitigate enforcement pressure but does not by itself retroactively convert belated payment into compliance on time. en-us Wed, 09 Jun 2021 17:00:16 +0530 Thu, 23 Jan 2025 15:54:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117271 Failure to declare a reverse charge liability but depositing tax in the cash ledger and availing input tax credit raises risk of credit reversal, penalty for irregular availment and interest liability; authorities may contend credit was improperly availed if not formally adjusted in returns, though evidence of recipient invoices/payment vouchers and actual payment to government (including belated DRC-03 adjustments) supports defence; paying interest may mitigate enforcement pressure but does not by itself retroactively convert belated payment into compliance on time. Discussion-Forum GST Wed, 09 Jun 2021 17:00:16 +0530 https://www.taxtmi.com/forum/issue?id=117271