Interest on wrongly availed IGST credit depends on aggregate ITC across heads; compensation cess excluded. For interest calculations on wrongly availed IGST credit and its reversal, the aggregate ITC balance across IGST, CGST and SGST in the electronic credit ledger is to be considered; no interest arises if that aggregate never falls below the wrongly availed amount, while interest is attracted to the extent the aggregate balance falls below it. Compensation cess credit is excluded from this aggregation as it cannot be used to discharge IGST, CGST or SGST liabilities.
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Provisions expressly mentioned in the judgment/order text.
Interest on wrongly availed IGST credit depends on aggregate ITC across heads; compensation cess excluded.
For interest calculations on wrongly availed IGST credit and its reversal, the aggregate ITC balance across IGST, CGST and SGST in the electronic credit ledger is to be considered; no interest arises if that aggregate never falls below the wrongly availed amount, while interest is attracted to the extent the aggregate balance falls below it. Compensation cess credit is excluded from this aggregation as it cannot be used to discharge IGST, CGST or SGST liabilities.
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