23 November 2022
I HAVE CLAIMED EXCESS ITC AS UNDER IGST 233000 CGST 242000 SGST 242000 UTILISED IGST 233000 CGST NIL SGST NIL Combined Balance Utilised NIL WHETHER FOR INTEREST CALCULATION IGST MAY BE TAKEN OR COMBINED BALANCE WILL BE CONSIDERED AS A WHOLE SGST NIL
24 November 2022
AS of now there is no clarity and no judicial precedent also. The rule 88B(3) read with explanation says balance in e credit ledger but does not say about head wise though clearly but in my opinion department will raised demand for interest as IGST has been not only claimed but also utilized for the purpose of output tax set off.
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