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Gstr 3B. table no.6
Pls anybody tell me to which extent we can use ITC for payment of tax....suppose I wants to pay IGST 3000 and in my ITC IGST is 5000....can we pay full amount out of ITC IGST
Replies (4)
Yes unless it is RCM. THe system will automatically calculate
You can setoff ITC with output tax liability to extent of ITC available .
and ITC has nothing to do with Rcm. You can take ITC irrespective of the fact whether it is reverse charge or forward charge.
and ITC has nothing to do with Rcm. You can take ITC irrespective of the fact whether it is reverse charge or forward charge.
@ Jasmaran Singh ji
You can use your credit balance of ITC in credit Ledger against any payment of your output tax liability.
You can not pay your RCM liability from your credit, RCM liability you have to pay in cash and than you can take credit of same.
in your case, You can set of 3000 IGST against Your ITC balance of 5000...2000 remaining you can use for next month liability.
You can use your credit balance of ITC in credit Ledger against any payment of your output tax liability.
You can not pay your RCM liability from your credit, RCM liability you have to pay in cash and than you can take credit of same.
in your case, You can set of 3000 IGST against Your ITC balance of 5000...2000 remaining you can use for next month liability.
Thanks all of you so much.......
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