IGST ITC Uitilization

Bharat Rotangan (Audit Consultant) (30 Points)

26 February 2020

What is the current practice for Utilization of IGST ITC as per the regulations of the Act?

Is it that it has to be utilized against CGST First and then the balance against SGST after utilization against IGST Liability??

Reply
Follow
Share

4 Replies

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 26 February 2020

As per amendment act the order of utilization after the setoff of IGST liability was compulsory CGST and then SGST/UGST

1 Like

Bharat Rotangan (Audit Consultant) (30 Points)
Replied 26 February 2020

So whether the stated amendment mentioned by you overwrites the GST circular no. 98/17/2019.

If yes, then request you to provide us the link of amended act. It would be really helpful.

Thanks for the revert!

Eswar Reddy S (CFO- at NHTF) (58263 Points)
Replied 26 February 2020

Rule 88A-Check this I think it is prior to circular no. 98/17/2019..

Atul kamboj (7 Points)
Replied 26 February 2020

Sec 49(5) cgst act, Rule 88A; very simple

Start a New Discussion