Adjustment of cgst sgst igst
This query is : Resolved
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 ?
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
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
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.
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
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
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
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN REDEVELOPED FLAT
- CLOSING STOCK QUERY
- Requirement under FEMA &RBI
- Gst on travel by air for business purposes
- GST ISD Query on various AMCs
- Taxation on Old jewellery sold
- ITR 44AD SECTION
- Query regarding reporting of exempt foreign remuneration in ITR
- PF wage ceiling
- Error in uploading Form 10BD
- REGARDING ITR FILING QUESTION
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
- Query regarding reporting of exempt foreign remuneration in ITR (AY 2026-27)
- FEMA/RBI treatment — Amazon.ca arbitrage (US buy, Canada sell, goods never enter India)
- Goods return by customer
- INWARD REMITTANCE FOREIGN
- CPC and SAC
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
