Adjustment of cgst sgst igst

This query is : Resolved

TARIQUE RIZVI (Querist)
Follow

24 April 2019 How to pay the liability of CGST SGST IGST with each other ? Whether anyone can be adjusted with any one ? or whether some rule is there for setting-off the liabilities ?

CA Anita Bhadra

CA Anita Bhadra (Expert)
Follow

24 April 2019 There is a Rule rather , there are Rules formed , amended and amended time to time.

CBIC vide circular No. 98/17/2019 – GST dt 23 Apr 2019 clarified manner of utilization of GST ITC Credit .

The newly inserted rule 88A in the CGST Rules allows utilization of input tax credit of Integrated tax towards the payment of CGST/SGST in any order subject to the condition that the entire input tax credit on account of Integrated tax is completely exhausted .

It has been clarified by CBIC today that after IGST get exhausted , IGST credit can be utilsed for CGST / SGST in any order and IN ANY PROPORTION

Thumb Rule of ITC utilisation is that SGST & CGST can not be utilized with each other

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
Follow

24 April 2019 Respected Anita Madam whether certain rules are expected on the basis of which any liability of gst can be set-off with any ITC available with sgst or cgst or igst. In such circumstances SGST ITC will pay CGST liability and vice versa. Hope u will please give me some concrete idea on this issue.

CA Anita Bhadra

CA Anita Bhadra (Expert)
Follow

24 April 2019 Yes
Yours IGST liability can be set off against IGST/ CGST & SGST ( First exhaust IGST & then used others)
CGST can be set off against CGST & IGST
SGST can be set off against SGST & IGST

TARIQUE RIZVI

TARIQUE RIZVI (Querist)
Follow

25 April 2019 But sgst wont set off cgs and the same way cgst wont set off sgst. Is it like that only ? with kindest regards,

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

raval umesh

Akhila Ajayan

santhosh singireddy

Rajat Khandelwal

CA Rahul Patwardhan

Subscribe Now

Adjustment of cgst sgst igst

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA