https://www.taxtmi.com/circulars?id=66950 For interest on wrongly availed IGST credit, the relevant benchmark is the total input tax credit in the electronic credit ledger across IGST, CGST and SGST combined, not the IGST-head balance alone. No interest accrues if the combined ITC balance from availment until reversal never falls below the wrongly availed IGST amount; interest is triggered only to the extent the combined balance falls short. Compensation cess credit is excluded from this computation and cannot be used for CGST, SGST or IGST liabilities or reversals. en-us Wed, 19 Jul 2023 00:00:00 +0530 Wed, 08 Nov 2023 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66950 For interest on wrongly availed IGST credit, the relevant benchmark is the total input tax credit in the electronic credit ledger across IGST, CGST and SGST combined, not the IGST-head balance alone. No interest accrues if the combined ITC balance from availment until reversal never falls below the wrongly availed IGST amount; interest is triggered only to the extent the combined balance falls short. Compensation cess credit is excluded from this computation and cannot be used for CGST, SGST or IGST liabilities or reversals. Circulars GST - States Wed, 19 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66950