What will be the tax consequences if CGST and SGST wrongfully collected instead of IGST and paid to Central Government and State Government respectively? Also discuss the legal provision related to payment of interest an

Refund of Central Goods and Services Tax and State Goods and Services Tax: As per Section 19 of the Integrated Goods and Services Tax Act, 2017, If a registered person who has paid the CGST and SGST on a transaction considered by him to be an intra-state supply, but which is subsequently held to be an inter-State supply, shall have to pay IGST and claim refund of Central Goods and Services Tax and State Goods and Services Tax so paid in such manner and subject to such conditions as may be prescribed. No Interest payable on Integrated Goods and Services Tax: As per Section 19 of the Integrated Goods and Services Tax Act, 2017, if a registered person who has paid Central tax and State tax or Union territory tax, as the case may be, on a transaction considered by him to be an intra-State supply, but which is subsequently held to be an inter-State supply, shall not be required to pay any interest on the amount of integrated tax payable. Also the penalty will not be levied in this scenario.