https://www.taxtmi.com/circulars?id=71759 Interest on wrongly availed and reversed IGST credit is determined by the aggregate balance of IGST, CGST and SGST input tax credit in the electronic credit ledger. No interest arises if that combined balance never falls below the wrongly availed credit between availment and reversal, notwithstanding a lower IGST balance alone. If the aggregate balance falls below the wrongly availed amount, utilization and interest arise only to the extent of the shortfall. Compensation cess credit is excluded because it cannot be used for IGST, CGST or SGST liabilities or reversals. en-us Tue, 28 Nov 2023 00:00:00 +0530 Tue, 27 Oct 2026 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=71759 Interest on wrongly availed and reversed IGST credit is determined by the aggregate balance of IGST, CGST and SGST input tax credit in the electronic credit ledger. No interest arises if that combined balance never falls below the wrongly availed credit between availment and reversal, notwithstanding a lower IGST balance alone. If the aggregate balance falls below the wrongly availed amount, utilization and interest arise only to the extent of the shortfall. Compensation cess credit is excluded because it cannot be used for IGST, CGST or SGST liabilities or reversals. Circulars GST - States Tue, 28 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/circulars?id=71759