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REGARDING ITC

Kamlesh Tolani (accountant) (562 Points)

17 June 2020

Respected members
IGST CREDIT CGST AND SGST DONO ME UTILIZE KAR SAKTE HE KI FIRST OF CGST THAN SGST ?

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9 Replies

Account Bird (157 Points)
Replied 17 June 2020

Yes, ap IGST Credit ko CGST or SGST dono me adjust kr skte hai

1 Like

CA ABHAY GUPTA (Practice) (3230 Points)
Replied 17 June 2020

IGST credit first utilize with CGST payment if balance available then for SGST payment.

1 Like

Kamlesh Tolani (accountant) (562 Points)
Replied 17 June 2020

Sir lekin chat ka credit to he to IGST ka sirf SGST kare to allowed nai he ?

Pankaj Rawat (GST Practitioner) (55037 Points)
Replied 19 June 2020

Haan ji aap IGST credit phelay IGST output main utilise karogey phir agar balance bachta hai toh aap dono CGST & Sgst main 50-50 karkey utilise saktey ho.

CA ABHAY GUPTA (Practice) (3230 Points)
Replied 19 June 2020

@ Kamlesh Tolani Ji as per GST set off rule wef 01/02/2019 IGST Bal first set off with IGST Payable (if any) after that with CGST Payable (if any) then balance if any with SGST Payable, it cannot be set off first with SGST Payable in case CGST OR IGST is also payable

@ Pankaj Rawat Ji After the insertion of new provision of section 49A this 50% 50% rule is no more.

2 Like

Kamlesh Tolani (accountant) (562 Points)
Replied 19 June 2020

THANK U VERY MUCH SIR 🙏🙏🙏

Pankaj Rawat (GST Practitioner) (55037 Points)
Replied 21 June 2020

@ CA Abhay

I knew it's r rule 88A of CGST Act

The IGST balance must be first set-off against IGST Output , & any balance remaining , can manually set-off 50+50 percent in CGST & SGST. .

The portal accept.

Pankaj Rawat (GST Practitioner) (55037 Points)
Replied 21 June 2020

Can also refer example given in Circular 98/17/2019 GST .

Pankaj Rawat (GST Practitioner) (55037 Points)
Replied 21 June 2020

And kindly refer my reply above once again , firsty IGST input will set-off against IGST output & thereafter any balance remaining of IGST input ,can be adjusted 50+50 percent between CGST & SGST output.