As per new rule and updation in portral, Can we claim IGST Credit agaist sgst first instead of cgst? Or I have to do it agaist Cgst first?
New updation and rule gst
Replies (5)
no this adjustment cannot be done till now first you have to adjust my GST against cgst liability
as you fill all the detail on gst portal , and go for make payment tab, it is automatically calculated IGST Credit against CGST first and then if IGST Credit remains it is setoff against SGST.
yes you can manually do that.......
But when i changed it manually the tab turned red doesnt that indicate erroneous return?
if it shows red, you have to check again, if you fill return online it is automatically setoff against your credit with tax liablity.
suppose you have IGST credit rs. 40000, and your sgst and cgst tax liablity rs, 25000 each . first out of this 40000 setoff against cgst liability of rs. 25000 and balance will be setoff against sgst. and for remaining balance of sgst you have to create challan. and paid the liability. after made a payment make setoff. and go to file a return.
i think from above example. it is clear for you.
Recent Topics :
- Bill-to-ship-to material at client site, project c
- Export previously now to be considered domestic sa
- Pan surrender via online
- EPFO Portal Issue – Unable to Save Employee
- Plant & Machinary
- ITC reversal after supplier amended the recipient
- GIFTS TO USEFUL CONTACTS ON FESTIVALS INCOME TAX
- INTEREST ON REFUND OF TDS
- Input tax claim related
- User not found in MCA portal
Related Topics :
CAclubindia
