Clarification on Interest for Wrong Availment of IGST Credit: CBIC Circular 192/04/2023-GST

CIRCULAR NO. 192/04/2023-GST [F. NO. CBIC-20001/5/2023-GST]CLARIFICATION ON CHARGING OF INTEREST UNDER SECTION 50(3) OF THE CGST ACT, 2017, IN CASES OF WRONG AVAILMENT OF IGST CREDIT AND REVERSAL THEREOFCIRCULAR NO. 192/04/2023-GST [F. NO. CBIC-20001/5/2023-GST], DATED 17-7-2023References have been received from trade requesting for clarification regarding charging of interest under sub-section (3) of section 50 of the Central Goods and Services Tax Act, 2017 (hereinafter referred to as the “CGST Act”) in the cases where IGST credit has been wrongly availed by...

Become a Premium member. If you are already a Premium member, please login here to access the full content.