if I have igst cgst sgst credit balance.
so can I adjust cgst to cgst
sgst to sgst
and after adjustment if balance is still pending to pay and then we utilize the credit of IGST.
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Setoff Rule
Replies (10)
Quick Summary
Set off rules.
IGST set off with both CGST & SGST.
SGST set off 1st with IGST, Then SGST
CGST set off 1st with IGST, Then CGST.
Then set off possible with CGST & SGST.
IGST set off with both CGST & SGST.
SGST set off 1st with IGST, Then SGST
CGST set off 1st with IGST, Then CGST.
Then set off possible with CGST & SGST.
IGST ITC to be completely exhausted before utilizing CGST & SGST ITC.
IGST =IGSTAND CGST AND SGST
CGST=CGST AND SGST
SGST=SGST only use
CGST=CGST AND SGST
SGST=SGST only use
Satheesh Ji -CGST & SGST -cannot set off together.
You're right shivanshu
U stated that u have balance in igst,
u claimed it fully, it means that u have no stock in hand.
u can not aduject itc against ur value addition liability on corresponding goods.
u claimed it fully, it means that u have no stock in hand.
u can not aduject itc against ur value addition liability on corresponding goods.
If you have credit balance in igst
set off rule
igst = igst + cgst
igst = igst+ sgst
cgst = igst+cgst
sgst= igst+ sgst
set off rule
igst = igst + cgst
igst = igst+ sgst
cgst = igst+cgst
sgst= igst+ sgst
Agree
There cant different set of rules.
Rules are very specific for adjusting CGST WITH IGST OR SGST.
Rules are very specific for adjusting CGST WITH IGST OR SGST.
How did treat adujectment:-
1.When purchase from inter state
ur igst devided as cgst and Sgst.
2. when purchase from intra state
ur Cgst and Sgst as same,But this
purchase moved to inter state,Cgst
and Sgst transferred as igst fully.
1.When purchase from inter state
ur igst devided as cgst and Sgst.
2. when purchase from intra state
ur Cgst and Sgst as same,But this
purchase moved to inter state,Cgst
and Sgst transferred as igst fully.
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