https://www.taxtmi.com/circulars?id=66619 The total ITC balance in the electronic credit ledger-aggregating IGST, CGST and SGST-must be used to determine whether wrongly availed IGST credit was utilized; no interest is chargeable if the combined ITC balance never fell below the wrongly availed amount between availment and reversal, but when the combined balance falls below that amount the shortfall measures utilization and attracts interest. Compensation cess credit is excluded from the aggregation and cannot be used for this purpose. en-us Mon, 17 Jul 2023 00:00:00 +0530 Tue, 18 Jul 2023 10:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66619 The total ITC balance in the electronic credit ledger-aggregating IGST, CGST and SGST-must be used to determine whether wrongly availed IGST credit was utilized; no interest is chargeable if the combined ITC balance never fell below the wrongly availed amount between availment and reversal, but when the combined balance falls below that amount the shortfall measures utilization and attracts interest. Compensation cess credit is excluded from the aggregation and cannot be used for this purpose. Circulars GST Mon, 17 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66619