https://www.taxtmi.com/circulars?id=71424 Interest on wrongly availed and reversed IGST credit is assessed by considering the combined electronic credit ledger balance under IGST, CGST and SGST. No interest arises if that cumulative balance never falls below the wrongly availed credit between availment and reversal, even where the IGST balance alone falls below it. If the combined balance falls below the wrongly availed credit, interest applies only to the extent of the shortfall. Compensation cess credit is excluded because it cannot be utilised towards IGST, CGST or SGST liabilities or reversals. en-us Mon, 14 Aug 2023 00:00:00 +0530 Mon, 05 Oct 2026 17:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71424 Interest on wrongly availed and reversed IGST credit is assessed by considering the combined electronic credit ledger balance under IGST, CGST and SGST. No interest arises if that cumulative balance never falls below the wrongly availed credit between availment and reversal, even where the IGST balance alone falls below it. If the combined balance falls below the wrongly availed credit, interest applies only to the extent of the shortfall. Compensation cess credit is excluded because it cannot be utilised towards IGST, CGST or SGST liabilities or reversals. Circulars GST - States Mon, 14 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71424