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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Regarding Tax liability
Replies (11)
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
- 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
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
Dear sir/ madam
please read care fully
please read care fully
Pls follow as per Ankur sir reply
Yes payment shall be CGST and SGST 500 each
Hi Dear Members.,
Is here payable IGST or C/SGST...?!
please can You/All elaborate Your views...?!
Is here payable IGST or C/SGST...?!
please can You/All elaborate Your views...?!
“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
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
Plz chk ITC in the fact
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
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
As per my view IGST Rs. 1000 payable in this case....
What about others view...?
Thank u all members for my QUARY reply.
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