Interest on reversal of gst itc

If the purchaser not made payment with in 180 days he must reverse the input already claimed and pay 24% interest.

If the purchaser not made payment with in 180 days he must reverse the input already claimed and pay 24% interest.

Interest @ 18% will apply in terms of Section 50(1) of GST Act, 2018. No Circular so far issued giving the immunity from interest liability in this case.

thanks to all.