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of <h1>Interest on Wrong IGST Credit Clarified: Section 50(3) RGST Act 2017, No Interest if Total Balance Sufficient.</h1> The circular clarifies the application of interest under section 50(3) of the RGST Act, 2017, concerning the wrong availment and reversal of IGST credit. It states that for calculating interest, the total input-tax credit available in the electronic credit ledger under IGST, CGST, and SGST should be considered collectively. No interest liability arises if the total balance never falls below the wrongly availed IGST credit until reversal. Compensation cess credit is excluded from this calculation, as it can only be used for compensation cess liabilities, not for IGST, CGST, or SGST payments.
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