Menu
Itc utilisation under gst
Can liability of a particular month be paid through ITC of next tax period in GST?
Replies (4)
Quick Summary
Yes liability can be paid through next period ITC but you should maintain proper periodical payments
How is it possible to set off current liability with future ITC?Taxpayers tend to report outward supply in R3B when they have sufficient ITC.
I don't think it's possible until you manipulate your details in returns. So it is not at all suggested.
As I understand, adjustment of current liability against future ITC is not possible.
Recent Topics :
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
Related Topics :
CAclubindia
