CA Student
15932 Points
Posted on 16 August 2017
First use CGST credit to set off CGST liability and SGST credit to set off SGST liability. After this, there’ll be SGST credit of Rs. 1,900/- and CGST credit of Rs. 1,900/- left. Use it to set off IGST liability and balance payable will be Rs. 700/-.
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Input tax
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Output tax
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IGST
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IGST
CGST
SGST
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CGST
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CGST
IGST
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SGST
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SGST
IGST
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UTGST
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UTGST
IGST
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Cross-utilization of credit is available only as above in that order. The main restriction is that the CGST credit cannot be utilized for payment of SGST or UTGST and vice versa.