https://www.taxtmi.com/forum/issue?id=118865 Where a recipient fails to pay a supplier within 180 days after availing input tax credit, the statutory framework requires reversal or payment of an amount equal to that ITC; recent amendments removed prior rule text that explicitly fixed interest timing and calculation, producing uncertainty whether the general interest provision for delayed tax payment applies. One view treats interest as accruing from the end of the 180 day period until the month before payment or reversal, while an alternative view contends that reversal is not equivalent to failure to pay tax and therefore the general interest provision does not apply. en-us Thu, 23 Nov 2023 13:22:34 +0530 Fri, 24 Jan 2025 10:40:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118865 Where a recipient fails to pay a supplier within 180 days after availing input tax credit, the statutory framework requires reversal or payment of an amount equal to that ITC; recent amendments removed prior rule text that explicitly fixed interest timing and calculation, producing uncertainty whether the general interest provision for delayed tax payment applies. One view treats interest as accruing from the end of the 180 day period until the month before payment or reversal, while an alternative view contends that reversal is not equivalent to failure to pay tax and therefore the general interest provision does not apply. Discussion-Forum GST Thu, 23 Nov 2023 13:22:34 +0530 https://www.taxtmi.com/forum/issue?id=118865