Input tax credit
This query is : Resolved
02 August 2017
My Question is can we adjust diffrent-2 rate of IGST Input to CGST Output ? like we have two type IGST input 18% + 5% = 25000 and we have out put of CGST 18% + 5% = 43000. can i have to pay under CGST - 18000.00 & SGST - 43000.00 ?
02 August 2017
Unable to understand your question
...
03 August 2017
Dear Ms.Rashmi,
May be it can confussing..... pls note detailed...
We have two type of taxable services, which are 18% , 5% and we have eligible for CGST, SGST, & IGST. Suppose our monthy Output IGST 18 % - 5000.00 and Input IGST 18% = 11000 Net IGST input = (6000.00) in same way Output IGST 5 % - 3000.00 and Input IGST 18% = 18000, net IGST Input 5% = (15000.00) Then Total Net Adjustable Input is (15000) + (6000) = (21000.00)
In Same month Output CGST 9 % - 22000.00 and Input CGST 9% = 9000 Net CGST 9% payable = 13000.00 & SGST 9 % - 22000.00 and Input SGST 9% = 9000 Net SGST 9% payable = 13000.00 in same way CGST 2.5 % - 32000.00 and Input CGST 2.5% = 13000 Net CGST 2.5% payable = 19000.00 & SGST 2.5 % - 32000.00 and Input SGST 2.5% = 13000 Net SGST 2.5% payable = 19000.00 Then Total CGST Payable is 13000 + 19000 = 32000.00 Then Total SGST Payable is 13000 + 19000 = 32000.00
TOTAL IGST INPUT RETAIN – (21000.00)
TOTAL CGST PAYABLE – 32000.00
TOTAL SGST PAYABLE – 32000.00
CAN I ADJUST IGST CREDIT FROM CGST
MEAN CGST PAYABLE – 32000 – (21000) = 11000.00
MEAN SGST PAYABLE – 32000
May be it can confussing..... pls note detailed...
We have two type of taxable services, which are 18% , 5% and we have eligible for CGST, SGST, & IGST. Suppose our monthy Output IGST 18 % - 5000.00 and Input IGST 18% = 11000 Net IGST input = (6000.00) in same way Output IGST 5 % - 3000.00 and Input IGST 18% = 18000, net IGST Input 5% = (15000.00) Then Total Net Adjustable Input is (15000) + (6000) = (21000.00)
In Same month Output CGST 9 % - 22000.00 and Input CGST 9% = 9000 Net CGST 9% payable = 13000.00 & SGST 9 % - 22000.00 and Input SGST 9% = 9000 Net SGST 9% payable = 13000.00 in same way CGST 2.5 % - 32000.00 and Input CGST 2.5% = 13000 Net CGST 2.5% payable = 19000.00 & SGST 2.5 % - 32000.00 and Input SGST 2.5% = 13000 Net SGST 2.5% payable = 19000.00 Then Total CGST Payable is 13000 + 19000 = 32000.00 Then Total SGST Payable is 13000 + 19000 = 32000.00
TOTAL IGST INPUT RETAIN – (21000.00)
TOTAL CGST PAYABLE – 32000.00
TOTAL SGST PAYABLE – 32000.00
CAN I ADJUST IGST CREDIT FROM CGST
MEAN CGST PAYABLE – 32000 – (21000) = 11000.00
MEAN SGST PAYABLE – 32000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Exiting partner in partnership firm in gst portal
- TDS _Long term Capital Gain ref.sec 214 Table 2
- Average Cost Of High Quality Diamonds
- Taxability of credit in canara bank ET & T section (NRO)
- ITR-3 File/Error Found
- Due Date Clarity
- NRI INSURANCE ADVISOR
- Applicability of Books of Account for Commission Income (Sections 194D & 194H)
- Gst on travel by air for business purposes
- Loss of interest in PF transfer from EPFO to Trust
- Seeking Advice: High Tax Shortfall on Job Switch + Let-Out House Property Loss in FY 2025-26
- TDS offline utility
- TDS on rent received on hardship compensation being rent on redevelopment of building
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
