Dear sir ,
Please give guide utilisation of New Amendment Rules in GST Act and RCM Payment sett off against Cash Ledger Balance?
as per Mind utilisation as per below correct?
Tax Liabilities. Sett of input credit
IGST. First IGST second -CGST
and Third -SGST
CGST. First- IGST , Second -CGST
SGST. First- IGST , Second- SGST
i am correct or not ?
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GST INPUT Credit Utilisation New Rules
Replies (3)
ITC of IGST can be utilised with IGST first
then CGST and then SGST
ITC Of CGST can be utilised with CGST first then IGST
ITC of SGST can be utilised with SGST first then IGST
then CGST and then SGST
ITC Of CGST can be utilised with CGST first then IGST
ITC of SGST can be utilised with SGST first then IGST
Yes RCM liability can be utilized against Cash Ledger only.
& 2nd part of your query being replied by Mr. Jeetu Kodwani.
& 2nd part of your query being replied by Mr. Jeetu Kodwani.
Input tax credit not applicable in case of composition dealer.
In case the set off is towards input tax credit , it must be set off against igst cgst then sgst
In case the set off is towards input tax credit , it must be set off against igst cgst then sgst
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