No. CT/8/0002/2022-Sec-1-05(CT) (65) Bhopal Dated 19th October 2022

34 aauee www.govtpressmp.nic.in wre, fee 19 saa 2022 spate CT/8/0002/2022-Sec-1-05(CT) (65) : seaueer aret oie Vat ay afefray, 2017 at feorRet oy, aeamest ara sie Sar oe fran, 2017 ao ate dies we & fac FrateaRad fron want 8, seri PNT faq ssa 4 softaa (2) & gear 01 Geng, 2017 4 Prefeftsa soa (3) cen STON sient fea war SAS wT, Hef “3) Se on 4, wet wet @ fay ae aie vue fee ce sage OX Waa HT WAR ORY Bray US we F Vary a we H aera Banks ap at safe F fe, ut so at zoster, —- sa saeas & sar & fer, — wan & HH amen & sie sage oe oeaa S WS soca or ofa ae wes er fo gage gees wet & fase wat & fer We sage ay wees HT THA HA oat 8} (#) ae are anit orett raat oer 30 & ania mega fey oi & farg faa <a & a aa frat & wea fee oe a aeafaw ante, vi A geet ai, afe eclagiita Fora (@) enh orm aractt 8, sdagire sero urd 4 fewest a ae ante art oreil wa Bret 2." Fee USAT A A AM STEVIA, am. Ut. strarata, svataa. , Sa omer at sfera Halas CT-8-0002-2022-Sec-1-05 (CT) (65), fete 19 HAH 2022 HI sit am. Ut. sitarea, sqaraa. Bhopal, the 19th October 2022 No. CT/8/0002/2022-Sec-1-05(CT) (65) : In exercise of the powers conferred by section 164 of the Madhya Pradesh Goods and Services Tax Act, 2017 (19 of 2017), the State Government, on the recommendations of the Council, hereby makes the following rules further to amend the Madhya Pradesh Goods and Services Tax Rules, 2017, namely: — Amendment In the said rules. with effect from the 1“ July, 2017, after sub-rule (2) of rule 88B, the following sub-rule (3) and explanation shall be deemed to have been inserted, namely: - Hepes waa, fear 19 WAAL 2022 1140 (1) “(3) In case, where interest is payable on the amount of input tax credit wrongly availed and utilised in accordance with sub-section (3) of section 50, the interest shall be calculated on the amount of input tax credit wrongly availed and utilised, for the period starting from the date of utilisation of such wrongly availed input tax credit till the date of reversal of such credit or payment of tax in respect of such amount, at such rate as may be notified under said sub-section (3) of section 50. Explanation. —For the purposes of this sub-rule, — (1) input tax credit wrongly availed shall be construed to have been utilised, when the balance in the electronic credit ledger falls below the amount of input tax credit wrongly availed, and the extent of such utilisation of input tax credit shall be the amount by which the balance in the electronic credit ledger falls below the amount of input tax credit wrongly availed. (2) the date of utilisation of such input tax credit shall be taken to be, — (a) the date, on which the return is due to be furnished under section 39 or the actual date of filing of the said return, whichever is earlier, if the balance in the electronic credit ledger falls below the amount of input tax credit wrongly availed, on account of payment of tax through the said return; or (b) the date of debit in the electronic credit ledger when the balance in the electronic credit ledger falls below the amount of input tax credit wrongly availed, in all other cases.” By Order and in the name of the Governor of Madhya Pradesh,