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GST Setoff

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Vi Shnu M

174 Points Posted on 20 January 2020

IGST OUTPUT- NIL
CGST OUTPUT- 90
SGST OUTPUT- 90
IGST INPUT- 50
CGST INPUT- 150
SGST INPUT - 150
HOW TO setoff?

Replies (4)

Quick Summary

This discussion clarifies the process of GST setoff, particularly for IGST, CGST, and SGST. It explains the two-step procedure: first, intra-head setoff (CGST liability against CGST input, and SGST liability against SGST input), and then inter-head setoff using IGST input for CGST liability. The example provided demonstrates how to calculate the remaining tax payable after utilising available input tax credits.

Libissa

Accountant

337 Points Posted on 20 January 2020

ITC - IGST - 50, CGST - 150, SGST - 150, OTC - CGST - 90, SGST - 90

Calculation :- OUTPUT TAX - CGST PAYABLE - 90 LESS INPUT IGST - 50, CGST - 40 , EXCESS IN CGST ITC RS.100), OUTPUT TAX SGST - 90 LESS INPUT SGST - 150 - EXCESS IN SGST RS.60

Spurto Consultancy Services

Consultant

1891 Points Posted on 20 January 2020

At the time of set off:

1st step: Intra head set off. Hence 1st set off the liab as:

CGST Output 90 SGST Output 90

Set off: CGST Input 150 SGST Input 150

2nd Step: After 1st set off, if liability remains then use IGST Input. You Cannot set off CGST Liab with SGST input and vice a versa

CA Saloni

Manager-Accounts & GST Consultant

5124 Points Posted on 20 January 2020

First IGST input of Rs 50 has to be fully utilized. CGST output of Rs 90 will be first set off with IGST input of Rs 50. Then balance CGST output of Rs 40 will be set off with CGST input of Rs 150. Now c/f under CGST is Rs 40/-. SGST output is to be set off with SGST input. Balance c/f in SGST is Rs 60/-