https://www.taxtmi.com/article/detailed?id=10341 The substituted section 41 requires reversal of availed input tax credit with applicable interest when a supplier fails to pay tax, permitting re-availment once the supplier pays; section 50(3) ties receiver interest liability to utilisation of that credit while section 50(1) obliges the supplier to pay interest for delayed tax. These rules can result in both supplier and receiver paying compensatory interest on the same tax amount, raising concerns of unjust enrichment and potential need for adjustment or refund of overlapping interest collections. en-us Tue, 05 Apr 2022 09:11:10 +0530 Tue, 05 Apr 2022 09:11:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10341 The substituted section 41 requires reversal of availed input tax credit with applicable interest when a supplier fails to pay tax, permitting re-availment once the supplier pays; section 50(3) ties receiver interest liability to utilisation of that credit while section 50(1) obliges the supplier to pay interest for delayed tax. These rules can result in both supplier and receiver paying compensatory interest on the same tax amount, raising concerns of unjust enrichment and potential need for adjustment or refund of overlapping interest collections. Articles Goods and Services Tax - GST Tue, 05 Apr 2022 09:11:10 +0530 https://www.taxtmi.com/article/detailed?id=10341