IGST CREDIT CAN BE ADJUSTED AGAINST SGST LIABILITY

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16 January 2024 I HAVE IGST CREDIT IN ELECTRONIC CREDIT LEDGER AND IN DEC-23 I HAVE LIABILITY OF SGST.
I WANTS TO KNOW THAT CAN I ADJUST MY IGST CREDIT AGAINST SGST LIABILITY ?

Aashok Kumar Sharma

Aashok Kumar Sharma (Expert)
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17 January 2024 A taxpayer can utilise IGST credit in any proportion and in any order, but the condition is to completely utilise the IGST credit before using CGST or SGST credit. So IGST credit has been utilised first as per the new system of set-off, only after which, can CGST or SGST/UTGST be set-off.

https://cleartax.in/s/gst-input-tax-credit-utilisation

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IGST CREDIT CAN BE ADJUSTED AGAINST SGST LIABILITY

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