CCI Online Learning
What do you want to learn today?
     
CIBIL

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Gstr 3B. table no.6


JASKARAN SINGH   15 August 2020

JASKARAN SINGH

 12 likes  191 points

| My Other Post

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

avater

Anoop srivastava   15 August 2020

Anoop srivastava

 6 likes  83 points

View Profile | My Other Post

Yes unless it is RCM. THe system will automatically calculate

1 Like
avater

ansh 99   16 August 2020

ansh 99

 21 likes  202 points

View Profile | My Other Post

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.

1 Like
avater

Sagar Patel (Tax and Business Consultant)     16 August 2020

Sagar Patel
Tax and Business Consultant 
 805 likes  8819 points

View Profile | My Other Post

@ 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.

1 Like
avater

JASKARAN SINGH   16 August 2020

JASKARAN SINGH

 12 likes  191 points

View Profile | My Other Post

Thanks all of you so much.......


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register  


Related Threads


Loading

Popular Discussion


view more »



Trending Tags
GST Live Class    |    x