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How to adjust excess itc

ITC / Input 154 views 2 replies

Sanjeev Pati

Accountant

250 Points Joined September 2016

Dear Sir/Madam,

We have only IGST service purchase in August month of 54930/-.... No sale bill in this month.

And in September month we have Sale liability 31948/- & Purchase is 4903/-

How can i adjust the payment of Sale liability through ITC...

Please help asap...

Replies (2)

Kanika khetan

Sr. Associate

331 Points Joined May 2015

When you go for offseting the liability you need not to pay cash, the portal will offset the liability from ITC pending

RAJA P M

"Do the Right Thing...!!!"

128116 Points Joined January 2015

At the time of filing GSTR 3B return the said ITC set off automatically...

But, As your knowledge and work out in future follow the following details of ITC set off...

IGST ITC Set Off :
IGST ITC to adjust First IGST (fully) --> after set off IGST and any ITC balance then set off CGST (fully) --> after set off CGST and have any ITC then set off SGST...

CGST ITC set off :

CGST to CGST fully after any balance then You can adjust IGST. (CGST to SGST no way for adjust).

SGST ITC set off:

SGST to SGST fully after any balance then You can set off to IGST. (SGST to CGST no way for adjust).