https://www.taxtmi.com/circulars?id=67288 For interest under rule 88B, calculation must consider the aggregate ITC balance across IGST, CGST and SGST in the electronic credit ledger. No interest is payable if, between availment and reversal, the combined ITC balance never falls below the wrongly availed IGST amount; interest arises only to the extent the total ledger balance falls short of that amount. Compensation cess credit is excluded from this aggregate because it cannot be applied to CGST, SGST or IGST liabilities or reversals. en-us Wed, 23 Aug 2023 00:00:00 +0530 Fri, 29 Mar 2024 17:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=67288 For interest under rule 88B, calculation must consider the aggregate ITC balance across IGST, CGST and SGST in the electronic credit ledger. No interest is payable if, between availment and reversal, the combined ITC balance never falls below the wrongly availed IGST amount; interest arises only to the extent the total ledger balance falls short of that amount. Compensation cess credit is excluded from this aggregate because it cannot be applied to CGST, SGST or IGST liabilities or reversals. Circulars GST - States Wed, 23 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=67288