IS INTEREST WILL BE LEVIED U/S 50 FOR DEFAULT IN MAKING PAYMENT TO SUPPLIER WITHIN 180 DAYS, Goods and Services Tax - GST

[PRAVEEN SONI]

IS INTEREST WILL BE LEVIED U/S 50 FOR DEFAULT IN MAKING PAYMENT TO SUPPLIER WITHIN 180 DAYS?

Posts / Replies

[KALLESHAMURTHY MURTHY]

Sir, 

Interest is applicable where the ITC availed on the value of goods or services received but not paid the value of goods or services including tax for more than 180 days (not within 180 days) from the date of invoice as per Rule 37 of the CGST Rules.