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Input Output adjustment

ITC / Input 318 views 11 replies

Mukesh Kumar Sharma

Manager

122 Points Posted on 08 July 2018

IGST OUTPUT = 2000
CGST INPUT = 1600
SGST INPUT = 1600

Gst payble ?

Replies (11)

prasad Nilugal

GST Practitioner & Accounts

15093 Points Posted on 08 July 2018

IGST payable 400/- (2000-1600) You can not adjust SGST 1600/- against IGST .

Vinod Babu

24196 Points Posted on 08 July 2018

IGST payable will be nil.
Sgst ITC balance will be 1200

Mukesh Kumar Sharma

Manager

122 Points Posted on 08 July 2018

But prasad ji advised other way above..

I'm Confused

Vinod Babu

24196 Points Posted on 08 July 2018

Cgst and sgst cannot be set offed against each other and vice versa.
Rest of them can be set offed.

Pankaj Rawat

GST Practitioner

55067 Points Posted on 08 July 2018

IGST Output 2000/-
Adjust CGST 1600/-
Adjust SGST 400/-

Balance Remain in SGST 1200/-

prasad Nilugal

GST Practitioner & Accounts

15093 Points Posted on 08 July 2018

So sorry . you can adjust SGST against IGST , Rawat & vinod babu are correct

Mukesh Kumar Sharma

Manager

122 Points Posted on 08 July 2018

It's Ok sir,

I was waiting for more reply 😊

Vinod Babu

24196 Points Posted on 08 July 2018

Ok Prasad sir. No problem. Everbody shares and learns the new things.
Thank you...

prasad Nilugal

GST Practitioner & Accounts

15093 Points Posted on 08 July 2018

Even UTGST can adust against IGST

Order of utilization of Input Tax Credit of UTGST would be the same like SGST. This means, Input Tax Credit of SGST or UTGST would first set-off against SGST or UTGST respectively. Output Tax liabilities and balance, if any, can be set-off against IGST Output Tax liabilities.