SGST, Credit ledger balance
This query is : Resolved
Quick Summary
08 September 2020
Dear, sir
I have used all CGST Amount in my credit ledger.I have a credit balance of SGST, now how can I use it in my next return with CGST.
I have used all CGST Amount in my credit ledger.I have a credit balance of SGST, now how can I use it in my next return with CGST.
Lekhraj sood
(Expert)
08 September 2020
You can not use SGST credit to pay up your CGST liability.You can only use this in paying your IGST or CGST liability.
Lekhraj sood
(Expert)
09 September 2020
Yeah,sorry for the mistake.Read it as 'you can only use this in paying your IGST or SGST liability'.
09 September 2020
YES, AGREED WITH MR. SOOD. LIABILITY OF SGST CANNOT SET OFF AGAINST CGST AND VICE VERSA. HOWEVER, BALANCE OF CGST AND SGST CAN BE SET OFF AGAINST IGST.
09 September 2020
My SGST CREDIT BALANCE IS APROX 15 LACK, How can it be withdrawn
Lekhraj sood
(Expert)
10 September 2020
Use it for clearing liability of IGST . First set off SGST balance against IGST liability.
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