Total input tax credit consideration prevents interest unless combined ITC falls below wrongly availed IGST, triggering interest. For interest on wrongly availed IGST credit, the relevant benchmark is the total input tax credit in the electronic credit ledger across IGST, CGST and SGST combined, not the IGST-head balance alone. No interest accrues if the combined ITC balance from availment until reversal never falls below the wrongly availed IGST amount; interest is triggered only to the extent the combined balance falls short. Compensation cess credit is excluded from this computation and cannot be used for CGST, SGST or IGST liabilities or reversals.
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Provisions expressly mentioned in the judgment/order text.
For interest on wrongly availed IGST credit, the relevant benchmark is the total input tax credit in the electronic credit ledger across IGST, CGST and SGST combined, not the IGST-head balance alone. No interest accrues if the combined ITC balance from availment until reversal never falls below the wrongly availed IGST amount; interest is triggered only to the extent the combined balance falls short. Compensation cess credit is excluded from this computation and cannot be used for CGST, SGST or IGST liabilities or reversals.
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