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GST interest rate on excess claimed GST Input

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(Querist)
30 May 2022 Whether interest is payable if duplicate/excess ITC taken or inelgible GST Input taken & subsequently reversed voluntary? If so, what is the percentage?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
30 May 2022 24% interest applicable.
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CA Rashmi Gandhi

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CA Rashmi Gandhi (Expert)
30 May 2022 24% interest u/s 50(3) of GST act .
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CA Altamush Zafar

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CA Altamush Zafar (Expert)
02 June 2022 Interest rate is now changed to 18%

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