Dear Experts,
Kindly advise on Interest to be paid on ITC reversal in 180 days.
If we are reverse the ITC after non payment in 180 days we have to pay any penalty or interest on it or not.
kindly advise if any notification issue as well.
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Interest on ITC reversal in 180 days
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18% interest from the date of ITC claimed
In term of Section 50 of CGST Act Interest is applicable @ 18%
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