Dear Experts ,
We have input credit in Igst ledger,but no out put to setoff but we have Cgst and Sgst out put.
shall we setoff sgst out put against i
gst credit or its compulsory to first setoff Cgst out put against Igst input
pls advice , is it optional.
my mgmt ready to pay sgst and Cgst out put dues without adjusting Igst input _ this case shall we claim Igst input as Refund or its compulsory we needs adjust igst credit against Cgst or sgst out put _ pls advice.
Menu
Input and out setoff
Replies (5)
Hi,
as per gst laws, the order of set off of igst input is first against igst output, second against cgst output, at last sgst output.
In your case, you can only first set off igst input against cgst input and then sgst output.
It is up to you to either set off the igst input, or you can carry forward the input to next tax period. It is not a compulsion to set off inputs against outputs.
as per gst laws, the order of set off of igst input is first against igst output, second against cgst output, at last sgst output.
In your case, you can only first set off igst input against cgst input and then sgst output.
It is up to you to either set off the igst input, or you can carry forward the input to next tax period. It is not a compulsion to set off inputs against outputs.
Ok sir thanks
@ V Karthikeyan ji
You can set of your IGST credit against CGST output or SGST output as per your Choice in any proportion... it's not mandatory to first set of IGST Credit against CGST output and then only set off to SGST output.
And also there is no refund of any credit available in credit Ledger.
So, It's advisable to Set of IGST Credit against CGST or SGST in such manner that your payment of GST in cash will be minimal..
You can set of your IGST credit against CGST output or SGST output as per your Choice in any proportion... it's not mandatory to first set of IGST Credit against CGST output and then only set off to SGST output.
And also there is no refund of any credit available in credit Ledger.
So, It's advisable to Set of IGST Credit against CGST or SGST in such manner that your payment of GST in cash will be minimal..
Thanks sir
Welcome.............
Recent Topic
- Startup exit in Sept 2025: Can I still save LTCG t
- Need advice
- GST registration
- Tax Refund timeline
- Is Form 10E applicable for Notice Pay received in
- INCOME RECEIVED FROM COMPANY FOR ELECTRIC POLLS
- ITR Processing By CPC Now Super Fast - Much apprec
- Abroad Jobs
- Professional Income in 44AD
- Presumptive taxation
Related Topics
CAclubindia
