Output tax liability April 2024
IGST 4973
CGST 92675
SGST 92675
ITC Balance
IGST 97294
CGST 668024
SGST 668024
HOW TO SET OFF
The IGST of 97,294 should first be offset by the IGST output of 4,973. The remaining IGST balance can then be fully offset against either CGST of 92,321, SGST of 92,321, or split equally between both, according to your preference. Ultimately, the IGST balance will be zero after this offsetting process.
| Originally posted by : sabyasachi mukherjee | ||
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Set off gst liability from balance of input tax credit |  |
Thankyou sir 🤣🤣🤣
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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