Can I use cash credit to offset CGST and SGST liability Quarterly GSTR3B return
This query is : Resolved
Pragna Marfatia
(Querist)
21 January 2022
Respected Sir,
(A) I have output GST liability as IGST - 20000 CGST - 4000 SGST - 4000
I have credit ledger (ITC) as IGST - 22000, CGST - 1000SGST -1000
I have cash credit as IGST - 1000 CGST - 500 SGST -1300
can I offset IGST liability by using 1000 cash credit, so 20000-1000 -19000. So credit balance available as IGST is 3000, which I will utilise to offset CGST and SGST liability
CGST - 4000-1000-500-2500 (from IGST credit balance)
SGST - 4000-1000-1300-500 (from IGST credit balance) so tax to be paid is only SGST - 1200
Is this correct as shown in (A) or
(B)
I have to first offset IGST only by IGST credit balance only and till such time I can not use cash IGST balnce to offset IGST liability and hence IGST credit balance cannot be used to offset CGST and SGST liability.
Please guide.
(A) I have output GST liability as IGST - 20000 CGST - 4000 SGST - 4000
I have credit ledger (ITC) as IGST - 22000, CGST - 1000SGST -1000
I have cash credit as IGST - 1000 CGST - 500 SGST -1300
can I offset IGST liability by using 1000 cash credit, so 20000-1000 -19000. So credit balance available as IGST is 3000, which I will utilise to offset CGST and SGST liability
CGST - 4000-1000-500-2500 (from IGST credit balance)
SGST - 4000-1000-1300-500 (from IGST credit balance) so tax to be paid is only SGST - 1200
Is this correct as shown in (A) or
(B)
I have to first offset IGST only by IGST credit balance only and till such time I can not use cash IGST balnce to offset IGST liability and hence IGST credit balance cannot be used to offset CGST and SGST liability.
Please guide.
29 January 2022
You can try both the Options on GST Portal, generally first IGST Credit is to be utilised then you can go forward
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