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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.
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