Please help on new gst set off rule
This query is : Resolved
18 May 2019
Dear Sir,
We have following position of tax credit and out put tax liability, can you please help how we have to discharge our tax liability
Out put tax liability
IGS = 5000/- , CGST 250/- SGST = 250/-
Input tax credit avaibale : IGST = 500 /- , CGST =1 500/- and SGST = 1500/-
We request expert to give openin on this
whether we have to pay IGST = 1850/- , CGST = 250/- and SGST 250/- orr
igst of Rs. 2350/-
Thanks in advance
AS we are unable to find output tax liability discharge sequence . .
We have following position of tax credit and out put tax liability, can you please help how we have to discharge our tax liability
Out put tax liability
IGS = 5000/- , CGST 250/- SGST = 250/-
Input tax credit avaibale : IGST = 500 /- , CGST =1 500/- and SGST = 1500/-
We request expert to give openin on this
whether we have to pay IGST = 1850/- , CGST = 250/- and SGST 250/- orr
igst of Rs. 2350/-
Thanks in advance
AS we are unable to find output tax liability discharge sequence . .
19 May 2019
input Available - 500 ( IGST ) 1500 ( CGST ) 1500 (SGST)
First Utilise output Liability from respected heads 500/250/250
Balance available -4500 ( IGST) 1250 (CGST) 1250 (SGST)
Now utilise 1250+1250 = 2500 ( CGST+SGST ) for IGST Liabilty
Net IGST to be paid (4500-2500) = Rs 2000
input Available - 500 ( IGST ) 1500 ( CGST ) 1500 (SGST)
First Utilise output Liability from respected heads 500/250/250
Balance available -4500 ( IGST) 1250 (CGST) 1250 (SGST)
Now utilise 1250+1250 = 2500 ( CGST+SGST ) for IGST Liabilty
Net IGST to be paid (4500-2500) = Rs 2000
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