Reversals of Input tax credit after 180 days

Yes,

As per sections 16 (2) of explanation of CGST Act, 2017

(2)  Notwithstanding anything contained in this section, no registered person shall be entitled to the credit of any input tax in respect of any supply of goods or services or both to him unless, –– (Basically, Sub-section (2) of section 16, prescribes conditions for taking input tax credit.)

• he is in possession of a tax invoice or debit note issued by a supplier registered under this Act, or such other tax paying documents as may be prescribed; which means a valid Tax Invoice/Debit note is mandatory for claiming input tax credit.
• he has received the goods or services or both

Explanation — For the purposes of this clause, it shall be deemed that the registered person has received the goods where the goods are delivered by the supplier to a recipient or any other person on the direction of such registered person, whether acting as an agent or otherwise, before or during movement of goods, either by way of transfer of documents of title to goods or otherwise i.e. Good and or services should actually be received or deemed to be received in cases of transfer of documents of title.

• subject to the provisions of section 41, the tax charged in respect of such supply has been actually paid to the Government, either in cash or through utilisation of input tax credit admissible in respect of the said supply which means tax has to be actually paid to the Government.
• he has furnished the return under section 39 i.e. prescribed returns should be duly filed by both the recipient and supplier.

Provided that where the goods against an invoice are received in lots or installments, he registered person shall be entitled to take credit upon receipt of the last lot or installment i.e. for part or installment payments, credit is available at the time of last installment.

Provided further that where a recipient fails to pay to the supplier of goods or services or both, other than the supplies on which tax is payable on reverse charge basis, the amount towards the value of supply along with tax payable thereon within a period of one hundred and eighty days from the date of issue of invoice by the supplier, an amount equal to the input tax credit availed by the recipient shall be added to his output tax liability, along with interest thereon, in such manner as may be prescribed which means Recipient of goods/services should pay to the supplier (Including Taxes), within 180 days from the date of issue of invoice, else the Input Credit shall be reversed.

Hope the above explanations will help you out.