can we adjust cgst and sgst input adjust with igst output or Vis-versa
JAYA SHARMA
(ACA, B.Com(H))
(36 Points)
Replied 30 May 2017
Hi,
Tax Credit of CGST, SGST & UTGST can be used for the payment of IGST . However, CGST can not be used for payment of SGST / UTGST and vice versa.
Tax Credit of IGST can be used for the payment of IGST. If any credit is left then it can be used for payment of CGST first and then for the payment of SGST/UTGST
Prity Agarwal
(CHARTERED ACCOUNTANT)
(363 Points)
Replied 30 May 2017
Tax credit of IGST can be used first for liability of IGST and if their is any left over credit then for CGST and then SGST.
Studentsca
(CA Practice )
(3577 Points)
Replied 30 May 2017
Sahajat Panda
(Executive)
(24 Points)
Replied 14 January 2018
Sahajat Panda
(Executive)
(24 Points)
Replied 14 January 2018
Hi Jaya,
If mistakely Challan is created for CGST & IGST ( State Delaer CGST & SGST applicable), can the amount in IGST of Cash ledger be adjusted against SGST payable at time of return???? as CGST has been correctly paid..
Kindly provide your suggestion as mistakely heavy value i have paid for CGST & IGST rather than going for CGST & SGST..!!!
Siddharth Goel
(Chartered Accountant)
(3026 Points)
Replied 05 July 2018
Hi,
The rule of availing and set off of credit of IGST is that the Tax Credit of IGST can be used for the payment of IGST. If any credit is left then it can be used for payment of CGST first and then for the payment of SGST/UTGST.
So, if you have no IGST and CGST payable, you can indeed use the IGST for payment of SGST.
CAclubindia
