New Sett Off rule under GST
This query is : Resolved
Quick Summary
22 May 2021
IGST CGST SGST
OUTWARD TAX 3300000 600000 600000
INWARD 1000000 1400000 1400000
HOW SET WILL BE DONE IN THIS CASE?
OUTWARD TAX 3300000 600000 600000
INWARD 1000000 1400000 1400000
HOW SET WILL BE DONE IN THIS CASE?
22 May 2021
For IGST Output – First set off thru ITC of IGST, then CGST & then SGST. (10 lacs+8 lacs(balance CGST)+ 8 lacs(balance SGST). Pay balance 5 lacs IGST in cash.
22 May 2021
It's 7 lacs payable.
22 May 2021
Its means that if you have credit in SGST Credit Ledger than you can utilized in Set Off of IGST Liability when CGST Credit is NIl
22 May 2021
Yes you are right..........
12 June 2021
Sir, I have credit of SGST and my IGST & CGST Liability set off from their head.
what should i do to utilized the credit of SGST.
what should i do to utilized the credit of SGST.
12 June 2021
Carry over and utilise it in future no time limit.
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