https://www.taxtmi.com/circulars?id=66722 Clarification states that for interest on wrongly availed IGST credit the determining factor is the total input tax credit balance across IGST, CGST and KGST in the electronic credit ledger; interest is chargeable only to the extent the combined ITC falls below the wrongly availed IGST amount. Compensation cess credit is excluded from this aggregate since it cannot be used to discharge IGST, CGST or KGST liabilities. en-us Fri, 21 Jul 2023 00:00:00 +0530 Thu, 10 Aug 2023 18:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66722 Clarification states that for interest on wrongly availed IGST credit the determining factor is the total input tax credit balance across IGST, CGST and KGST in the electronic credit ledger; interest is chargeable only to the extent the combined ITC falls below the wrongly availed IGST amount. Compensation cess credit is excluded from this aggregate since it cannot be used to discharge IGST, CGST or KGST liabilities. Circulars GST - States Fri, 21 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66722