https://www.taxtmi.com/article/detailed?id=11208 Whether interest may be demanded on repayment of an erroneous GST refund hinges on the statutory basis for charging interest and the characterisation of the refund as erroneous. Section 50 provides for interest on tax shortfall and wrongly availed input credit, and Rule 88B prescribes calculation mechanics retrospectively. Administrative measures, including Rule 86(4B) and a clarifying circular, permit repayment of the refund with interest and penalty to obtain recredit in the electronic credit ledger, but imposition of interest requires a clear statutory foundation. en-us Wed, 15 Mar 2023 10:22:49 +0530 Wed, 15 Mar 2023 10:22:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11208 Whether interest may be demanded on repayment of an erroneous GST refund hinges on the statutory basis for charging interest and the characterisation of the refund as erroneous. Section 50 provides for interest on tax shortfall and wrongly availed input credit, and Rule 88B prescribes calculation mechanics retrospectively. Administrative measures, including Rule 86(4B) and a clarifying circular, permit repayment of the refund with interest and penalty to obtain recredit in the electronic credit ledger, but imposition of interest requires a clear statutory foundation. Articles Goods and Services Tax - GST Wed, 15 Mar 2023 10:22:49 +0530 https://www.taxtmi.com/article/detailed?id=11208