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gst itc query
is the new rule of itc applicable for may 19 this one cgst is to be set off first against igst then cgst same with sgst?
Replies (3)
Earlier rule applicable
Earlier Rule Applicable [ Section 49 of the CGST Act 2017 ].
The new of Set off is applicable from 01/02/2019 via introduction of Sec 49A & Sec 49B after Sec 49 in CGST Act. But the mechanism for that on GST Portal is not updated yet. e.g IGST can be Set off against IGST and then CGST and SGST, CGST can be set off against CGST and then against IGST, and SGST can be set off against SGST and then against IGST.
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