can IGST Liability be offset with ITC of SGST before exhaust of ITC of CGST , kindly clarify?
Replies (3)
Quick Summary
This discussion clarifies the rules around offsetting IGST liability using input tax credit (ITC). While IGST is typically offset against IGST first, then CGST, and finally SGST, Rule 88A allows for offsetting IGST liability with either CGST or SGST ITC. It's important to note that the GST system is designed to follow a specific order of offset, and users should confirm the current implementation on the GST portal.
Hi, I need some clarification, till 88A rule implemention in GST common portal, we have to offset gst as per old rules right? if we want to offset as per rule 88A, is there any circular for that? I have not seen any official word regarding this,