Balance available in in INPUT SGST

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This query is : Resolved

Quick Summary

If your business primarily engages in inter-state sales and local purchases, you might accumulate a significant balance in your Input SGST account. This excess Input SGST can be utilised to offset your IGST liability. If you have an inverted Input Tax Credit situation, you can also file for a refund. For further assistance, consider seeking expert advice.

MD MABOOB ALAM

MD MABOOB ALAM (Querist)

15 June 2021 Sir/Madam
Kindly light on below mentioned query.
my client deals only inter-state SALES (Other State) sale and PURCHASE from intra-state(Local / within State)
therefore there is showing to much balance in input SGST .
what would i do kindly suggest me
i have no sales for local only interstate Sales and Export (without Payment Of Tax) Sales

CA Altamush Zafar

CA Altamush Zafar (Expert)

15 June 2021 No need to worry. SGST itc will get utilised for igst liability. If you have accumulated itc then you should file for refund. You can mail me for further query

Rajamahendra Varma M.B.A.,LL.B

Rajamahendra Varma M.B.A.,LL.B (Expert)

15 June 2021 You can utilize SGST against IGST liability. If you have inverted ITC in books, then file an application for refund. If you require any clarification, please contact me on nine nine zero one eight four one one five zero

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