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Set off gst procedure and present input tax credit rules

As rightly pointed by Mr. Deepak, we can set off GST ITC in following order:-

1. IGST credit first from IGST Liability, then from SGST or CGST in any order or in any proportion

2. CGST credit first from CGST Liability, then from IGST, carry forward if remains, but no set off against SGST

3. SGST credit first from SGST Liability, then from IGST , carry forward if remains, but no set off against CGST.

 1 Replies

Deepak Gupta

Deepak Gupta (CA Student)     24 December 2019

Manner of ITC utilisation and Cross utilisation:

1. IGST Cr. from IGST Dr.

2. Then balance IGST Dr. can be used for CGST Cr./SGST Cr., in any order

3. Only restriction: CGST Dr. cannot be used for SGST Cr. and vice versa

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