Hello all,
Is it okay to pay SGST amount in Cash even though I have IGST ITC credit available and utilize the IGST ITC credit for future months ITC adjustments?
So say for Aug 23
ITC available IGST - 100, CGST-10 and SGST-10
Liability - IGST 40, CGST 50 and SGST 50
So overall liability after adjusting ITC is IGST - NIL, CGST-NIL, SGST-20
However, I would like to do the following:
IGST-NIL, CGST-NIL and SGST-40 and keep balance of IGST of Rs.20 as pending in credit ledger for utilizing in next month GST return.
Is this okay?
CAclubindia
