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ITC setoff rule in igst

ITC / Input 244 views 5 replies
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10 Points Posted on 11 February 2020
I am purchasing material from other state & said material sold to in our state.

all above transactions we are claiming IGST & Paid CGST & SGST.

Please explain me how can we setoff IGST in sequence wise

If it is possible to IGST setoff in CGST & SGST (50:50) equal.
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On 11 February 2020 at 18:04 Report
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student
239 Points Posted on 11 February 2020
No first u use IGsT balance to set of Cgst and if any balance left with IgSt then u used itni setoff sGst
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On 11 February 2020 at 18:08
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15 Points Posted on 11 February 2020
@ Rajat jain , didn't understand this concept. kindly explain with more simple way.
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On 11 February 2020 at 21:04
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account -GST
1560 Points Posted on 11 February 2020
Suppose input IGST is rs 100/- and output cgst and sgst rs 70/- each. now setup will be first rs 100 of IGST will be setoff from cgst (100-70=30).balance igst30/- will be setoff from sgst. tax will rs 40/- of sgst
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On 11 February 2020 at 22:52
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Gen. Manager - Indirect Taxation
3451 Points Posted on 12 February 2020
First utilise IGST against IGST

Then if any balance is left in IGST can be used in any manner for Payment of CGST and SGST
7 Reply
On 12 February 2020 at 11:10
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10 Points Posted on 12 February 2020
Thanks sir
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On 12 February 2020 at 16:38


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