https://www.taxtmi.com/forum/issue?id=118754 Interest on wrongly availed ITC is payable only if the aggregate balance in the electronic credit ledger across IGST, CGST and SGST falls below the wrongly availed amount, because that shortfall constitutes utilisation; if the reversal occurs before any such utilisation and the combined ledger balance never fell below the amount, no interest under the statutory interest provision is attracted. Taxpayers should retain ledger downloads to evidence non utilisation, and disclosure in returns should follow practice for either ''others'' or permanent reversal adjustment lines as applicable. en-us Fri, 15 Sep 2023 16:00:35 +0530 Fri, 24 Jan 2025 10:40:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118754 Interest on wrongly availed ITC is payable only if the aggregate balance in the electronic credit ledger across IGST, CGST and SGST falls below the wrongly availed amount, because that shortfall constitutes utilisation; if the reversal occurs before any such utilisation and the combined ledger balance never fell below the amount, no interest under the statutory interest provision is attracted. Taxpayers should retain ledger downloads to evidence non utilisation, and disclosure in returns should follow practice for either ''others'' or permanent reversal adjustment lines as applicable. Discussion-Forum GST Fri, 15 Sep 2023 16:00:35 +0530 https://www.taxtmi.com/forum/issue?id=118754