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.
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.
09 September 2020
Please clear the sentence as its showing dual meaning
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My SGST CREDIT BALANCE IS APROX 15 LACK, How can it be withdrawn
10 September 2020
Use it for clearing liability of IGST . First set off SGST balance against IGST liability.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Difference between Date of Payment and Date of Deduction?
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- Journal entry of busniess expenses
- Same demand raised for original as well as rectification request return
- Sale of property held jointly with a non resident Indian
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
- NRI ITR2 account in 2025-26.
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
