https://www.taxtmi.com/circulars?id=66788 For interest calculations on wrongly availed IGST credit and its reversal, the aggregate ITC balance across IGST, CGST and SGST in the electronic credit ledger is to be considered; no interest arises if that aggregate never falls below the wrongly availed amount, while interest is attracted to the extent the aggregate balance falls below it. Compensation cess credit is excluded from this aggregation as it cannot be used to discharge IGST, CGST or SGST liabilities. en-us Fri, 04 Aug 2023 00:00:00 +0530 Wed, 30 Aug 2023 18:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66788 For interest calculations on wrongly availed IGST credit and its reversal, the aggregate ITC balance across IGST, CGST and SGST in the electronic credit ledger is to be considered; no interest arises if that aggregate never falls below the wrongly availed amount, while interest is attracted to the extent the aggregate balance falls below it. Compensation cess credit is excluded from this aggregation as it cannot be used to discharge IGST, CGST or SGST liabilities. Circulars GST - States Fri, 04 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66788