Menu
Can we Set off the Cess Amount
If any taxable person pay the cess @ 160% then Can he set off the cess amount with his cess amount on sale
Replies (1)
Input tax credit can be availed on GST Cess paid on inward supplies of notified goods. However, the credit of GST Cess paid can be utilized only towards payment of the GST Cess liability.
Also, You always need to consider the general rule of ITC under GST. There are various expenses on which ITC are not available u/s 17(5)
Recent Topic
- Shift of Place of Business from one state to anoth
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
- Section 54F deduction - GST and Stamp Duty cost wh
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
Related Topics
CAclubindia
