Interest on wrong availment of Input Tax credit
This query is : Resolved
16 September 2019
We request expert opinion whether interest is payable for wrong availment of Input tax credit from the date of taking credit or from the date of utilizing the credit.
For example one person has taken in eligible credit for Rs.10,000/- on 10.08.2019. But he has utilzed the credit on 31.08.2019. My question is whether interest is payable for wrong availment from 10.08.10 or 31.08.2019 ?
For example one person has taken in eligible credit for Rs.10,000/- on 10.08.2019. But he has utilzed the credit on 31.08.2019. My question is whether interest is payable for wrong availment from 10.08.10 or 31.08.2019 ?
16 September 2019
Interest is payable for wrong utilization from 31.08.2019.
16 September 2019
Thank you very mcuh sir.
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