GST interest rate on reversal of GST Input

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Daya

Daya (Querist)
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29 June 2022 what will be the GST interest rate on reversal of GST input.

CA Puja Sharma

CA Puja Sharma (Expert)
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29 June 2022 The rate of interest will be for wrongly availed and utilised ITC is 24%.
The same have been recently reduced by the GST council from 24% to 18% with retrospective effect. But the effective notification is yet to come

CA Puja Sharma

CA Puja Sharma (Expert)
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