Rule 121 of ‘Central Goods and Services Tax (CGST) Rules 2017’: Recovery of Credit wrongly Availed
Provisions under Rule 121 of the Central Goods and Services Tax (CGST) Rules, 2017 relating to “Recovery of Credit wrongly Availed”, as per CGST (2nd Amendment) Rules 2017 notified by CBEC on 28 June 2017, applicable w.e.f. 1 July 2017, are as under:
CGST Rule 121: Recovery of Credit wrongly Availed (Chapter-XIV: Transitional Provisions)
The amount credited under sub-rule (3) of rule 117 may be verified and proceedings under section 73 or, as the case may be, section 74 shall be initiated in respect of any credit wrongly availed, whether wholly or partly.