Regarding Tax liability

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accountant
564 Points Posted on 13 January 2020
Respected All Members
Igsg payble 27000
cgst payble. 500
SGST payble 500

igst ITC 0
cgst ITC 500
cgst old credit 26000
SGST ITC. 500

now cgst payble or not ??
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On 13 January 2020 at 18:14 Report
Replies (11)
Quick Summary
This discussion revolves around the correct procedure for setting off Input Tax Credit (ITC) against tax liabilities, particularly concerning CGST, SGST, and IGST. Members are debating the application of the CGST (Amendment) Act, 2018, which outlines a specific priority for ITC utilisation. The core question is whether IGST should be set off first against IGST output, or if other rules apply when CGST and SGST liabilities are present.

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senior
175 Points Posted on 13 January 2020
As per CGST (AMENDMENT) ACT,2018 THE PRIORITY OF SET OFF OF ITC IS AS BELOW:-

- FOR CGST OUTPUT- 1ST SET OFF THROUGH ITC OF IGST THEN CGST

- SGST OUTPUT- 1ST IGST THEN SGST

- IGST OUTPUT - 1ST IGST, CGST AND SGST



CONCULSION - Rs 1000 is shall be payable as IGST TAX AS PER AMENDMENT
1 Reply
On 13 January 2020 at 19:18
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840 Points Posted on 13 January 2020
According to new notification, igst output must be set off first. so in your above example cgst and sgst Rs.500 payable under each head
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On 13 January 2020 at 19:19
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senior
175 Points Posted on 13 January 2020
Dear sir/ madam

please read care fully
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On 13 January 2020 at 19:21
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840 Points Posted on 13 January 2020
Pls follow as per Ankur sir reply
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On 13 January 2020 at 19:22
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senior
175 Points Posted on 13 January 2020
Yes payment shall be CGST and SGST 500 each
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On 13 January 2020 at 21:52
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"Do the Right Thing...!!!"
128162 Points Posted on 13 January 2020
Hi Dear Members.,

Is here payable IGST or C/SGST...?!
please can You/All elaborate Your views...?!
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On 13 January 2020 at 22:39
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840 Points Posted on 14 January 2020
“as per sec 49 of cgst amendment act is that

Provided that the input tax credit on account of State tax shall be
utilised towards payment of integrated tax only where the balance of the
input tax credit on account of central tax is not available for payment of integrated tax


my understanding was to first set off igst liability from the above

pl correct me if I am wrong
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On 14 January 2020 at 00:04
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senior
175 Points Posted on 14 January 2020
Plz chk ITC in the fact
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On 14 January 2020 at 08:03
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840 Points Posted on 14 January 2020
I/output 27000
C/OUT 500 INPUT TOTAL 26500
S/OUT 500 INPUT 500

NOW
IGST 27000 IS DISCHARGED WITH
CGST 26500 (COULDN'T TAKE NET AS IGST LIABILITY IS MORE) OUTPUT OF CGST IS TO BE PAYABLE
SGST INPUT 500, AND SGST OUTPUT TO BE PAYABLE
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On 14 January 2020 at 08:26
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"Do the Right Thing...!!!"
128162 Points Posted on 14 January 2020

As per my view IGST Rs. 1000 payable in this case....

What about others view...?

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On 14 January 2020 at 10:14
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accountant
564 Points Posted on 15 January 2020
Thank u all members for my QUARY reply.
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On 15 January 2020 at 09:05

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