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ITC Set off rule

ITC / Input 411 views 4 replies
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1 Points Posted on 16 September 2019

can anyone explain current GST itc set off rule

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On 16 September 2019 at 11:01 Report
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student-CA FINALS
191 Points Posted on 16 September 2019
Ist igst input will be set off against igst output and then cgst and then sgst. Later on Set of cgst with cgst and sgst with sgst. You have fully adjust igst ist.
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On 16 September 2019 at 14:44
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4 Points Posted on 16 September 2019
First igst against igst then balance igst can be adjusted against cgst or sgst in any manner.
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On 16 September 2019 at 16:03
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student-CA FINALS
191 Points Posted on 16 September 2019
Yes i forgot to clarify, igst can be set off in any manner after set off igst.
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On 16 September 2019 at 16:07
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Accountant
386 Points Posted on 16 September 2019

As per New Amended CGST Law  ( section 49A)  The Following sequences are required to be maintained:

IGST LIABILITY                 CGST LIABILITY               SGST LIABILITY

 

• IGST CREDIT

 

• CGST CREDIT

• SGST CREDIT

  • IGST CREDIT

 

• CGST CREDIT

 • IGST CREDIT

 

• SGST CREDIT
1 Reply
On 16 September 2019 at 16:40


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