https://www.taxtmi.com/circulars?id=66812 For interest under rule 88B and section 50(3), the test of utilisation of wrongly availed IGST credit compares the wrongly availed amount with the total input tax credit balance in the electronic credit ledger across IGST, CGST and SGST; no interest arises if the aggregated balance never falls below the wrongly availed amount, while any shortfall in the aggregated balance measures utilisation and attracts interest. Compensation cess credit is excluded from this aggregated balance. en-us Fri, 21 Jul 2023 00:00:00 +0530 Wed, 13 Sep 2023 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66812 For interest under rule 88B and section 50(3), the test of utilisation of wrongly availed IGST credit compares the wrongly availed amount with the total input tax credit balance in the electronic credit ledger across IGST, CGST and SGST; no interest arises if the aggregated balance never falls below the wrongly availed amount, while any shortfall in the aggregated balance measures utilisation and attracts interest. Compensation cess credit is excluded from this aggregated balance. Circulars GST - States Fri, 21 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66812