Hi Sir or Madam
Good evening
We have IGST ITC every month
we don't have IGST liability
We use IGST ITC towards CGST liability and SGST liability
Is there any restrictions in using IGST ITC first towards CGST and Later SGST
or Can I use IGST ITC in any manner in any proportion towards discharge of CGST and SGST liability
Please advise
Thanks
Menu
IGST order of Utilization
Replies (7)
You can use it in any proportion.
No, Any proportion is not acceptable...
IGST ITC will be utilize like order of IGST, CGST and then SGST...
IGST ITC will be utilize like order of IGST, CGST and then SGST...
Since there is a facility to transfer the electronic ledger balance from one head to another head , the query not relevant practically
Cash Ledger balances only can transfer any other heads...
@ Raja PM sir
could you please let me know any relevant circular
Thanks
could you please let me know any relevant circular
Thanks
Please go through the link.
You can get some clarity about the utilization of ITC....
https://cleartax.in/s/gst-input-tax-credit-utilisation
You can get some clarity about the utilization of ITC....
https://cleartax.in/s/gst-input-tax-credit-utilisation
You can first utilize with the present scenario.
Recent Topic
- Form 10E u/s. 89(1). Need clarification because Ex
- Long Term Capital Loss - Tata Capital unlisted sha
- Section 54F deduction - GST and Stamp Duty cost wh
- Professional Crossed 20 Laks in Dec 26 Failed to T
- F&O in ITR
- CA Final Self pace Module
- Query Regarding House Ownership Transfer Reflected
- Money transction within Family
- ITR-2 salary breakup updation
- Application for ₹2 Crore Term Loan under Cre
Related Topics
CAclubindia
