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of <h1>Clarification on Interest Charges for Wrong IGST Credit u/s 50(3) of DGST Act, 2017: Key Guidelines.</h1> The circular clarifies interest charges under section 50(3) of the DGST Act, 2017, for wrong IGST credit availment and reversal. It states that interest is not applicable if the total input tax credit (ITC) balance across IGST, CGST, and SGST remains above the wrongly availed IGST credit until reversal. However, interest applies if the combined ITC balance falls below the wrongly availed credit. Compensation cess credit cannot be used for IGST, CGST, or SGST payments and is excluded from interest calculations. Difficulties in implementing this guidance should be reported to the Principal Commissioner of Trade and Taxes.
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