Gst tax computation
This query is : Open
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 September 2017
Dear sir,
We have Following inputs of GST :-
CGST 744
SGST 744
And output liability is :-
CGST 442
SGST 442
IGST 517
So adjustment as per me is :-
Input CGST 744
Less output CGST 442
Balance CGST left 302
Same treatment will be done even in SGST Hence balance SGST will also be left 302,
Now output IGST 517
Less output CGST 302
Less output SGST 215
Therefore CGST ITC become Nil and SGST ITC 87 shall be C/F,
Pls let me know whether above computation is correct if not pls do the correct computation & let me know the same?
Thanks In Advance
Rajeev Kumar
We have Following inputs of GST :-
CGST 744
SGST 744
And output liability is :-
CGST 442
SGST 442
IGST 517
So adjustment as per me is :-
Input CGST 744
Less output CGST 442
Balance CGST left 302
Same treatment will be done even in SGST Hence balance SGST will also be left 302,
Now output IGST 517
Less output CGST 302
Less output SGST 215
Therefore CGST ITC become Nil and SGST ITC 87 shall be C/F,
Pls let me know whether above computation is correct if not pls do the correct computation & let me know the same?
Thanks In Advance
Rajeev Kumar
22 September 2017
You are Exactly correct...
No more changes made above way... Also I appreciate your set off ITC to Liabilities...
GOOD LUCK....
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