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IGST EXCESS

MURALIDOSS (INCOME TAX PRACTITIONER) (1302 Points)

20 September 2019

A DEALER PURCHASED FROM OTHER STATE WITH IGST

AND SALES IN LOCAL WITH CGST AND SGST

HOW TO CLAIM THE IGST?, COZ IF THERE IS NOT ENOUGH SGST AND CGST?

PLEASE.

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18 Replies

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 20 September 2019

Input IGST can be set off against CGST/SGST payable.

MURALIDOSS (INCOME TAX PRACTITIONER) (1302 Points)
Replied 20 September 2019

Thanks very much for your reply. If we file return automatically it shows as payable sgst & igst , but we have gist excess. can we modify it?

Satya N Dharani (Finance Professional) (491 Points)
Replied 20 September 2019

No need to worry,

As per Rule 88A of CGST Rules 2017 it is possible and one more thing, the GST portal itself "setoff".

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 20 September 2019

While filing GSTR-3B, when you click on set off option, it will adjust the amounts.

MURALIDOSS (INCOME TAX PRACTITIONER) (1302 Points)
Replied 20 September 2019

Thanks very much both of you

MURALIDOSS (INCOME TAX PRACTITIONER) (1302 Points)
Replied 20 September 2019

sir,

the below screenshot shows available balance in IGST 25734/-

HERE WE NEED TO PAY SGST / STATE TAX -25647/-

PLS CHECK.

Satya N Dharani (Finance Professional) (491 Points)
Replied 20 September 2019

screenshot is not visible,

you just inform us how much is ITC, how much liability?

MURALIDOSS (INCOME TAX PRACTITIONER) (1302 Points)
Replied 20 September 2019

I have credit ledger - IGST- 118990/- CGST - 25974/- SCGST-25974/-

NEED TO PAY CGST - 84337/- & SGST -84337/-

CGST IT TAKES -84337/-

SGST IT TAKES - FROM IGST - 33883/- & CGST - IT TAKES ONLY 25974/- , BALANCE 24480/- NEED TO PAY ....

shailendra shukla (Bhopal) (1741 Points)
Replied 20 September 2019

You can manually alter the value as.........utilize half of igst input in cgst and half in sgst.... remaining will be adjusted through cgst credit and sgst credit..... no need to pay through cash.... just manually alter the order of utilization....

MURALIDOSS (INCOME TAX PRACTITIONER) (1302 Points)
Replied 20 September 2019

OK SIR,

THANKS VERY MUCH.

shailendra shukla (Bhopal) (1741 Points)
Replied 20 September 2019

Your welcome............😊

Satya N Dharani (Finance Professional) (491 Points)
Replied 21 September 2019

as per new rule you have to pay SGST 23710/-

1. Input ITC shall be first used against IGST

2. Balance IGST ITC shall be used to set off “GROSS OUTPUT TAX LIABILITY OF CGST” in above example 1 crore shall be set off before availing ITC of CGST

3. BALANCE if any IGST ITC shall be utilised against State Tax

hence,

I. Output Tax Liability				II. Input Tax Credit (Availment - Reversal)				III. Input Tax Credit Set-off against Output Tax Liability
TAX HEAD	FCM	RCM	TOTAL	TAX HEAD	FCM	RCM	TOTAL	TAX PAYABLE-FCM		ITC-IGST	ITC-CGST	ITC-SGST	TOTAL
IGST	-		-	IGST	1,18,990	-	1,18,990	IGST	-	-	-	-	-
CGST	84,337		84,337	CGST	25,974	-	25,974	CGST	84,337	84,337	-		84,337
SGST	84,337		84,337	SGST	25,974	-	25,974	SGST	84,337	34,653		25,974	60,627
Total	1,68,674	-	1,68,674	Total	1,70,938	-	1,70,938	Total	1,68,674	1,18,990	-	25,974	1,44,964

IV. Net Output Tax Liability (Cash Payment)				V. Input Tax Credit Ledger Balance
TAX HEAD	FCM	RCM	TOTAL	TAX HEAD	ITC AMOUNT
IGST	-	-	-	IGST	-
CGST	-	-	-	CGST	25,974
SGST	23,710	-	23,710	SGST	-
Total	23,710	-	23,710	Total	25,974