https://www.taxtmi.com/circulars?id=67133 For interest under rule 88B and section 50(3), the relevant measure is the total input-tax credit balance across IGST, CGST and SGST in the electronic credit ledger; interest is triggered only if that combined balance falls below the wrongly availed IGST credit, and the extent of interest equals the extent to which the combined balance is short. Compensation cess credit is excluded from this calculation as it cannot be used for CGST, SGST or IGST liabilities or reversals. en-us Tue, 08 Aug 2023 00:00:00 +0530 Fri, 19 Jan 2024 18:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67133 For interest under rule 88B and section 50(3), the relevant measure is the total input-tax credit balance across IGST, CGST and SGST in the electronic credit ledger; interest is triggered only if that combined balance falls below the wrongly availed IGST credit, and the extent of interest equals the extent to which the combined balance is short. Compensation cess credit is excluded from this calculation as it cannot be used for CGST, SGST or IGST liabilities or reversals. Circulars GST - States Tue, 08 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67133