Adjustment of GST Liability
This query is : Open
Kunal Pansari
(Querist)
05 August 2017
Suppose, My IGST liability for July is Rs. 38000 on sales
And I had paid rent which consist of Rs. 21000, CGST & SGST each, which makes it total to Rs. 42000
Now, can I adjust my IGST liability on sales with my Input CGST & SGST on rent?
Please note that Rent Receiver is registered and issues rent bill with calculations of CGST & IGST. Hence, I think RCM will not apply here
CA Rashmi Gandhi
(Expert)
05 August 2017
Yes you can setoff IGST with CGST.
CA Rashmi Gandhi
(Expert)
05 August 2017
& then with SGST also.
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