Sir,
please advise i have output liability Rs. 39000/- CGST and 39000/- SGST i have ITC rs. 16000/- IGST, and CGST 75000/- and 17000/- Total ITC Rs.108000/- But Sir after adjustment portal prepare Challan Of Rs. 6000/- for cash please suggest how to adjust input output
Output Liability: - CGST: Rs. 39,000
To adjust the input-output liability:
. If there's no output IGST liability, this ITC can be used to adjust CGST or SGST liability.
2. Use the CGST ITC (Rs. 75,000) to adjust the CGST output liability (Rs. 39,000).
This will leave a balance of Rs. 36,000 (Rs. 75,000 - Rs. 39,000) in CGST ITC.
CAclubindia
