i have opted for quarterly return and now :
Sgst Output tax liability is 15000
Cgst Input available is 15966
can i set off these two and not make payment ?
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Replies (4)
yes. Certainly you can set off. follow the system below.
How is input tax credits adjusted?
- To pay IGST – First IGST credit will be used followed by CGST or SGST as per the taxpayer's preference.
- For paying CGST – Starting from CGST credit and then IGST credit will be used.
- To pay SGST – First SGST credit and the IGST credit will be used.
Then in my case, i can't pay sgst using cgst credit ??
Yes you can't utilise cgst itc for sgst.
Pay through challan
Pay through challan
Yea youcan't utlise cgst input For discharge sgst liablity you have pay challan
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