Gst set off rules wef 01/02/2019


(Querist)
11 February 2019
What is basic rule of GST Set Off Rules Wef 01/02/2019
I have following Example :
INPUT – IGST RS. 456821/-, CGST RS. 254164/- AND SGST RS. 254164/-
OUTPUT – IGST RS. 91779/-, CGST RS.510243/- AND SGST RS. 510243/-
PLEASE DO THE WORKING OF GST AS NEW LAW


Manish (Expert)
11 February 2019
IGST (456821 - 91779) = 365042, available for CGST & SGST.
CGST (254164 - 510243) = - 256079, payable out of above IGST balance.
SGST (254164 - 510243) = - 256079, payable out of above IGST balance left (365042 - 256079 = 108963) and cash payment of 147116

Anshuman Basu (Querist)
11 February 2019
I have to pay Rs. 256079 in SGST, and Rs. 108963 (ITC in CGST). May I correct?

Manish (Expert)
12 February 2019
SGST will be paid 147116 in cash. Rest will be adjusted with input taxes.


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