Goods and Services Tax – Started By: – Ankit TMI – Dated:- 5-6-2018 Last Replied Date:- 8-6-2018 – What are the interest and penal liability in case a supplier has wrongly availed CGST / SGST credit against IGST. However, the same has been reversed before utilisation. Kindly quote specific section that affects the said scenario. Thanks – Reply By YAGAY and SUN – The Reply = If interest @24% is paid along with reversal of ITC which was wrongly availed before issuance of SCN then there would be no penal actions initiated by the Department. – Reply By Ankit TMI – The Reply = Thanks you sir for your response. Can you please help me out with exact provision which levy interest in such a scenario. Is your reply is in context of mismatch under Se
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