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Allocation of IGST?

Harshit Acharya (399 Points)

28 March 2020  
Is IGST allocated between center and state in 50%-50% manner or is there any other manner of distribution?

 9 Replies

RAJA P M ("Do the Right Thing...!!!")   (115460 Points)
Replied 28 March 2020

The IGST allocated to first CGST fully after that SGST...

(My reply except IGST set off as per Your query ).

Harshit Acharya (399 Points)
Replied 28 March 2020

I think you answered about manner of "ITC" distribution of IGST.
My query is IGST which I have paid , how will it be allocated between central and state government (50-50) or Is there any other manner of settlement?

RAJA P M ("Do the Right Thing...!!!")   (115460 Points)
Replied 28 March 2020

Sorry dear, I can't understand...
Can You elaborate with some details...?!

Harshit Acharya (399 Points)
Replied 28 March 2020

In an intra state supppy we pay Cgst and sgst .Cgst belongs to Central govt's revenue and sgst belongs to state govt's revenue (state where the destination of supply is there -POS).
Likewise, in inter state supply we pay IGST .This IGST is collected by CENTRAL GOVT and then distributed (a part of it ) to STATE GOVT also.
I AM ASKING THE MANNER (PROPORTION) OF ITS DISTRIBUTION.
IS IT 50% TO CENTRAL GOVT AND 50% TO STATE GOVT OR IS THERE ANY OTHER MANNER OF SETTLEMENT??

RAJA P M ("Do the Right Thing...!!!")   (115460 Points)
Replied 28 March 2020

Better to refer the details through the act. It's to clear Your doubts "GST (Compensation to the States) Act"

Harshit Acharya (399 Points)
Replied 28 March 2020

Thank you.

suraj (Student CA Final ) (284 Points)
Replied 28 March 2020

Dear Harshit
IGST credit first to be utilised with OUTPUT IGST .
Balance IGST Credit can be utlised in any ratio for OUTPUT SGST or OUTPUT CSGT.

It depends on you how you want to utilise your IGST credit against CGST AND SGST
take 50|50 or 70|30 or 100/0..any choice you want

Harshit Acharya (399 Points)
Replied 28 March 2020

Please read the question again my 5th explanation,sir. You are mistaken.
It is not about "ITC"

Spurto Consultancy Services (Consultant) (1891 Points)
Replied 28 March 2020

The manner of IGST distribution between Center & State have been mentioned in GST Compensations Act. 

 


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