ITC wrongly availed

Interest Rate on ITC wrongly availed & utilized under Section 50(3) of CGST Act has been reduced from 24% to 18%. Please notification.
Replies (2)
Quick Summary
The interest rate applicable to Input Tax Credit (ITC) wrongly availed and utilised under Section 50(3) of the CGST Act has been reduced from 24% to 18%. This new 18% rate applies when ITC is reversed voluntarily. However, if the GST department raises a demand, the interest rate remains at 24%.

18% interest if ITC reversed sue-moto
24% interest if demand raised by GST Deptt
Thank you.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
08 October 2026
SALES TELECALLER

HIRE NOVA

Lucknow

Graduate (Any)

View Details
Company
ARTICLESHIP 23 October 2026
CA Articleship / Article Assistant

M N Rao & Associates LLP

Vijayawada

CA Inter

View Details
Company
06 October 2026
Assistant Manager - Audit and Compliance

Ravi K Jain & Co

Noida

Others

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details