Can liability of a particular month be paid through ITC of next tax period in GST?
Replies (4)
Quick Summary
This discussion explores whether a business can use Input Tax Credit (ITC) from a future tax period to pay off the current GST liability. While some suggest it might be technically possible by manipulating return filings, it's generally not advised due to potential complexities and is not a standard practice. The consensus leans towards not being able to adjust current liabilities with future ITC.