https://www.taxtmi.com/article/detailed?id=10450 Interest on wrongly availed input tax credit is payable only when the ineligible credit has been utilised to discharge output tax liabilities; mere availment and subsequent reversal in returns does not attract compensatory interest because no revenue loss has occurred. Procedurally, adjudication may address wrongful availment, but interest requires proof of utilisation; retrospective amendment excludes interest where credit is merely retained in the electronic ledger. en-us Sat, 11 Jun 2022 10:30:26 +0530 Sat, 11 Jun 2022 10:30:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10450 Interest on wrongly availed input tax credit is payable only when the ineligible credit has been utilised to discharge output tax liabilities; mere availment and subsequent reversal in returns does not attract compensatory interest because no revenue loss has occurred. Procedurally, adjudication may address wrongful availment, but interest requires proof of utilisation; retrospective amendment excludes interest where credit is merely retained in the electronic ledger. Articles Goods and Services Tax - GST Sat, 11 Jun 2022 10:30:26 +0530 https://www.taxtmi.com/article/detailed?id=10450