GST setoff current rules

483 views
User Avatar

3145 Points Posted on 20 August 2022
DEAR CHARTERED ACCOUNTANTS,

Plse check whether I am correct or not,

1. Both CGST and SGST can't set off each other...

2.For IGST set off IGST credit first and to utilize to CGST,SGST and UTGST..

3.For CGST set off first CGST credit and to utilize to IGST UTGST

4.For SGST set off first SGST and to Utilize to IGST and UTGST


please check this is correct or not there is any mistake please clarify with explanation

Note: why the all should be set off first there usage ??
0 Reply Share Follow
On 20 August 2022 at 08:45 Report
Replies (13)
Quick Summary
This discussion clarifies the rules for setting off Goods and Services Tax (GST) credits. It confirms that CGST and SGST credits cannot be set off against each other. IGST credit must be used first for IGST, then CGST, SGST, and UTGST. Similarly, CGST credit is used for IGST and UTGST, and SGST credit for IGST and UTGST of the same state. UTGST follows the same rules as SGST and cannot be offset against CGST.

User Avatar

Accountant
186 Points Posted on 20 August 2022
Igst-igst-cgst-sgst
cgst-igst-cgst= bal cgst payable
sgst-igst-sgst= bal sgst payable
1 Reply
On 20 August 2022 at 09:49
User Avatar

3145 Points Posted on 20 August 2022
But cgst sgst we can't set of against each other am I correct?
Reply
On 20 August 2022 at 10:07
User Avatar

Accountant
186 Points Posted on 21 August 2022
Where are setting off cgst to sgst sanjay ji
1 Reply
On 21 August 2022 at 00:47
User Avatar

3145 Points Posted on 21 August 2022
Dear sir ,CGST credit can't set off to SGST ..and SGST credit can't setoff to CGST ...IAM I right
Reply
On 21 August 2022 at 09:45
User Avatar

Profession
28269 Points Posted on 21 August 2022
Gst set off
1 Reply
On 21 August 2022 at 11:48
User Avatar

3145 Points Posted on 21 August 2022
@ sabyasachi sir IAM I correct or not
Reply
On 21 August 2022 at 11:52
User Avatar

Student
586 Points Posted on 21 August 2022
Yes,cgst and sgst cannnot set off each other
1 Reply
On 21 August 2022 at 18:05
User Avatar

3145 Points Posted on 21 August 2022
@ For UTGST how to set off could you please tell me
Reply
On 21 August 2022 at 18:11
User Avatar

Student
586 Points Posted on 21 August 2022
Utgst also can't be set off against cgst.It goes same as sgst ..It can only be set off against igst /utgst
2 Reply
On 21 August 2022 at 18:13
User Avatar

3145 Points Posted on 21 August 2022
So only for usage sgst,IGST and UTGST...
Reply
On 21 August 2022 at 18:15
User Avatar

Student
586 Points Posted on 21 August 2022
Yes ,that too utgst of only that state
3 Reply
On 21 August 2022 at 18:21
User Avatar

3145 Points Posted on 21 August 2022
Can i set off SGST credit to IGST?
Reply
On 21 August 2022 at 18:22
User Avatar

Student
586 Points Posted on 21 August 2022
Yes you can
1 Reply
On 21 August 2022 at 19:01

Leave a Reply

Post Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Recent Topics :

  1. Foreign remittance
  2. Affordable Residential Flats in Gurgaon
  3. Manufacturing
  4. TAN REGISTRATION ON E-FILLING SITE
  5. Form 10-IEA – Continuing Old Regime
  6. Income tax act 2026
  7. Belated Return where Form 10IEA filed this year to
  8. GST Reconciliation Tool (2A vs Books) - looking fo
  9. TDS ON PF FORM 19 WITHDRAWAL
  10. Can a virtual office in Mumbai be used for company

More recent discussions | Post

Related Topics :

Loading