Input tax credit
This query is : Resolved
Accounts worker
(Querist)
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 ?
CA Rashmi Gandhi
(Expert)
02 August 2017
Unable to understand your question
...
Accounts worker
(Querist)
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
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