Interest u/s 50(3) of the CGST Act, 2017, in cases of wrong ...

Interest Exemption on Wrong IGST Credit Availment Under CGST Act Sec 50(3) if ITC Ledger Balance Stays Intact.

July 27, 2023

Circulars GST

Interest u/s 50(3) of the CGST Act, 2017, in cases of wrong availment of IGST credit and reversal thereof - There will not be any interest liability u/s 50(3) of CGST Act if, during the time period starting from such availment and up to such reversal, the balance of input tax credit (ITC) in the electronic credit ledger, under the heads of IGST, CGST and SGST taken together, has never fallen below the amount of such wrongly availed ITC - Circular

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Interest u/s 50(3) of the CGST Act, 2017, in cases of wrong ...

Interest Exemption on Wrong IGST Credit Availment Under CGST Act Sec 50(3) if ITC Ledger Balance Stays Intact.

July 27, 2023

Circulars GST

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