R/ Sir
I have input credit lying under CGST 24500 and SGST 23300 I want to adjust with it Igst liability of Rs 46000 Can I do so
Yes you can.......
First cgst itc will be set off then sgst
13 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24588 Points)
Replied 06 June 2021
Yes first cgst shall be set off then sgst be set off
kumar rajat
(285 Points)
Replied 06 June 2021
This method following adjust form liability
solution : 46000 subtract 23600( CGST) ,22400 subtract 22400 ( SGST)
CGST balance ITC 900
SGST balance ITC 900
solution : 46000 subtract 23600( CGST) ,22400 subtract 22400 ( SGST)
CGST balance ITC 900
SGST balance ITC 900
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 06 June 2021
Cgst will have to be utilised in full first before utilising sgst as per section 49
kumar rajat
(285 Points)
Replied 06 June 2021
For your information I would like to update you that we use this method to make full use of our ltc.
IGST will first adjust with IGST then with CGST and then with SGST
CGST will First adjust CGST then IGST
SGST will first adjust SGST then IGST
IGST will first adjust with IGST then with CGST and then with SGST
CGST will First adjust CGST then IGST
SGST will first adjust SGST then IGST
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 06 June 2021
For your information I would say read 49.
Cgst itc has to be nil to use sgst itc for igst
kumar rajat
(285 Points)
Replied 06 June 2021
Section 49 according gst porat automatically liability off set . but You can make full use of your itc in the manner described above.
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 06 June 2021
Yes it does not allow you to utilise sgst itc for igst liability if you have cgst itc balance.
Therefore the solution given by you above is not correct.
kumar rajat
(285 Points)
Replied 06 June 2021
Dear sir,
Go to GST portal and try the Partical by following the method I mentioned.
Go to GST portal and try the Partical by following the method I mentioned.
CA Altamush Zafar
(GST Consultant)
(15986 Points)
Replied 06 June 2021
I have already tried it before.
It doesn't offset sgst itc in igst if you are having cgst itc balance.
It says to finish cgst itc.
And this is as per law also.
kumar rajat
(285 Points)
Replied 06 June 2021
Dear sir,
please send me contact no and clear this doubt
please send me contact no and clear this doubt
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