ADJUST SGST for CGST Payment
I have excess ITC of SGST in our book and want to adjust with CGST because we are closing our firm how to save it.
Replies (4)
Quick Summary
Why did itc have excess or due in cgst? r u exporter?
Cannot be adjusted.
No you cannot adust CGST balance against SGST .
(Reference : Section 49B R/w rule 88A , Circular 98/17/2019 GST)
(Reference : Section 49B R/w rule 88A , Circular 98/17/2019 GST)
SGST ITC cannot be offset against CGST liability. If you can have an inter-state sale transaction, SGST credit can be adjusted against IGST liability.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
