Set Off of Liability
This query is : Resolved
26 February 2020
Particulars IGST CGST SGST
Opening Input 100 0 0
During the month 150 50 50
Output during the month 100 25 25
(i) How to set off
(ii) How much ITC balance carry forward for net month
Opening Input 100 0 0
During the month 150 50 50
Output during the month 100 25 25
(i) How to set off
(ii) How much ITC balance carry forward for net month
27 February 2020
U can utilised CGST / SGST only after the input tax credit available on account of integrated tax has first been utilized fully towards such payment.(Rule 49A of CGST Act (Amendment) 2018)
Thus use 150 from IGST and carry forward 50 50 50 IG CG & SG respectively
Thus use 150 from IGST and carry forward 50 50 50 IG CG & SG respectively
27 February 2020
Carry Forwad IGST 100 & CGST 50 & SGST 50
Please reply,
Please reply,
27 February 2020
It means you can use IGST 100, CGST 50 & SGST 50 for further outward liability
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