Igst amount adjusted
This query is : Open
chandan pal
(Querist)
29 July 2017
my Question i Purchase the goods from IGST. the tax amount of goods i taken as input IGST After my selling the goods the output tax amount will be calculated or not.
For Example :
Purchase Taxable value : 1,00,000
IGST @ 28% : 28000
Net : 1,28,000
if i sales in with in State Taxable value : 2,00,000
CGST @ 14% : 28,000
SGST @ 14% : 28,000
Net : 2 56,000
if i will club the tax amount
input IGST (28000)
Output SGST 28000
Output CGST 28000
Net Tax Paid 28000
Please clear my quary.
For Example :
Purchase Taxable value : 1,00,000
IGST @ 28% : 28000
Net : 1,28,000
if i sales in with in State Taxable value : 2,00,000
CGST @ 14% : 28,000
SGST @ 14% : 28,000
Net : 2 56,000
if i will club the tax amount
input IGST (28000)
Output SGST 28000
Output CGST 28000
Net Tax Paid 28000
Please clear my quary.
CA Rashmi Gandhi
(Expert)
29 July 2017
You can set off IGST from IGST first then from CGST & Then SGST.
CA Rashmi Gandhi
(Expert)
29 July 2017
Here IGST adjusted from CGST only & you have to pay Rs.28000/- for SGST only.
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