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Setting off of GST liability


Mukesh babu (No)     19 October 2019

Mukesh babu
No 
 54 points

| My Other Post

I have output of cgst 2,50,000 and sgst 2,50,000 and I have input tax credit of rs.15,00,000 igst. how to set off my GST amount as per new set off rules? will there be any liability arise??

avater

Pankaj Rawat (GST Practitioner)     19 October 2019

Pankaj Rawat
GST Practitioner 
 3346 likes  45211 points

View Profile | My Other Post

IGST balance will set-off first from IGST output if any , then it set-off the output of CGST & SGST

15 lac - 2.5 lac - 2.5lac = 10 lac (IGST balance in credit ledger)

avater

CA Dhruva Kalamanji (Chartered Accountant )     19 October 2019

CA Dhruva Kalamanji
Chartered Accountant  
 89 likes  1879 points

View Profile | My Other Post

Kindly key in your details in 3.1 and 4 table of gstr3b automatically portal will show set off table. no need worry.


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