Mohd Khalid 22 September 2020
Friends If the tax comes in CGST 100 and SGST 100 and I have 50 Rs in IGST credit ledger and have 50 Rs cash ledger in CGST
Can I use 50 Rs from credit ledger of IGST to set off SGST and 50 Rs from cash ledger to set off CGST to equal tax liability of CGST and SGST i.e 50 each
Sagar Patel (Tax and Business Consultant) 22 September 2020
Yes, you can do this....
but If You set off IGST credit against CGST than you have to Pay Rs. 100 SGST through bank..
or If You set off IGST credit against SGST than you have to pay Rs. 50 CGST and Rs. 50 SGST total Rs. 100 through bank..
So, Rs. 100 to pay karna hi padega na..