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REGARDING ITC UTILIZATION

Kamlesh Tolani (accountant) (562 Points)

19 June 2020

o/p
IGST 100
CGST 1000
SGST 1000

I/P WITH CREDIT AVAILABLE
IGST 1500
CGST 500
SGST 500

PLEASE SUGGEST ME ISME UTILIZATION IGST SE HO SAKTA HE

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5 Replies

David (article Assistant) (1610 Points)
Replied 19 June 2020

First you have to utilise IGST credit fully. So IGST input of 1500 can be following manner
1) 100 - IGST, 700-cgst,700-sgst
2) balance 300 payable can be set off from SGST and CGST input of 500 respectively.

5 Like

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 19 June 2020

Yes I agree, firstly ITC of IGST has to be exhausted fully then you can setoff CGST input for CGST liability and SGST input for SGST liability.

CA Saloni (Manager-Accounts & GST Consultant) (5124 Points)
Replied 19 June 2020

Yes I agree, firstly ITC of IGST has to be exhausted fully then you can setoff CGST input for CGST liability and SGST input for SGST liability.

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

Thank u sir for this help
and sir compulsary 50% kar sakte he ki SGST ko 70% de to allowed he

CA Akshay Hiregange (Partner - Audit & Assistance) (4515 Points)
Replied 19 June 2020

Agree with all answers above. As per Rule 88A, "any manner" words are used, so need not be 100% CGST or 50% each CGST & SGST. You may use in the manner you choose.

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