Provisions under Rule 121 of CGST Rules, 2017 relating to “Recovery of Credit wrongly Availed”:
CGST Rule 121: Recovery of Credit wrongly Availed (Chapter XIV: Transitional Provisions) [*1]
The amount credited under sub-rule (3) of rule 117 may be verified and proceedings under section 73 or section 74 or section 74A, as the case may be, [*2] shall be initiated in respect of any credit wrongly availed, whether wholly or partly.
Notes (History of Amendments in Bare Text):
1. CGST Rule 121 introduced vide Notification 10/2017, effective 01/07/2017.
2. The text “proceedings under section 73 or, as the case may be, section 74” substituted with the text “proceedings under section 73 or section 74 or section 74A, as the case may be,” from 01/11/2024 vide Notification 20/2024.
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