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IGST Set off
We have IGST against interstate sale bill. We purchase material only within our state i.e. against CGST & SGST. Can IGST be set off against CGST & SGST equally or it is firts set off against CGST and balance is deducted from SGST?
Replies (2)
not equally but your last setoff method is Correct
Any IGST credit will first be applied to set off in this order:
First set off against IGST liability
Then CGST
The balance credit will be used to set off SGST
First set off against IGST liability
Then CGST
The balance credit will be used to set off SGST
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