https://www.taxtmi.com/article/detailed?id=17015 Interest under section 50(3) applies only where input tax credit is both wrongly availed and actually utilised to discharge GST liability; mere availment or reversal before utilisation does not attract interest. Under Rule 88B(3), interest runs from the date of utilisation until reversal or tax payment. Utilisation occurs when the electronic credit ledger falls below the wrongly availed credit amount due to tax payment. Wrongful availment and utilisation includes use of credit where the registered person is not eligible or entitled to it, and is not confined to fraudulent or bad-faith cases. en-us Thu, 23 Jul 2026 08:43:50 +0530 Thu, 23 Jul 2026 08:43:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=17015 Interest under section 50(3) applies only where input tax credit is both wrongly availed and actually utilised to discharge GST liability; mere availment or reversal before utilisation does not attract interest. Under Rule 88B(3), interest runs from the date of utilisation until reversal or tax payment. Utilisation occurs when the electronic credit ledger falls below the wrongly availed credit amount due to tax payment. Wrongful availment and utilisation includes use of credit where the registered person is not eligible or entitled to it, and is not confined to fraudulent or bad-faith cases. Articles Goods and Services Tax - GST Thu, 23 Jul 2026 08:43:50 +0530 https://www.taxtmi.com/article/detailed?id=17015