06 August 2020
You have to first utilise all the IGST credit. But because SGST liability is more than SGST ITC balance , I would suggest you to utilise as under- 1. IGST utilisation-Rs. 150 ITC as (150-100-2- 30(cgst liab)- 18(SGST liab). This makes your IGST ITC balance will become nil. 2. Balance CGST liability you can discharge by utilising CGST credit (40-21).This will leave CGST ITC balance of Rs.19. 3. Balance SGST liability you can discharge by utilising SGST credit (40-33).This will leave SGST balance of Rs.7. Thus in the above manner you do not need to pay cash.
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