GST Setoff

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

 

 

 

 

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

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/-

Yes... I agreed with CA Saloni...

&

C/f Input Tax Credits under
CGST Rs 110
SGST Rs 60