can igst liability be set off with sgst itc before using cgst itc?
Note:(all Igst input already utilized for igst output, here talking abt setting off remaining output of igst)
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New rules of set off
Replies (3)
You may do so if there is no ITC in CGST account.
Excerpt from section 42(5)(c):
(c) the State tax shall first be utilised towards payment of State tax and the amount remaining, if any, may be utilised towards payment of integrated tax;
2 “Provided that the input tax credit on account of State tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on account of central tax is not available for payment of integrated tax;”
No IGST cannot be set off with SGST before CGST
CGST ITC will have to be utilized in full before utilizing SGST ITC for IGST liability
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