pawan bharati (47 Points)
20 June 2017we purchase goods by giving sgst & cgst from intra state and sale the same in interstate.
will my input of cgst & sgst adjust with output of igst??
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 20 June 2017
Credit of CGST will be first utilized towards payment of CGST and then IGST
Similarly Credit of SGST will be first utilized towards payment of SGST and then IGST
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(177840 Points)
Replied 20 June 2017
Yes, but only after adjustment aginst output CGST & SGST respectively, whatever balance left in each gets adjusted against output IGST.
Refer: https://blogs.tallysolutions.com/how-to-set-off-input-credit-against-liability-in-gst/
Lalit Nagpal
(Assistant Manager)
(541 Points)
Replied 20 June 2017
SANTANU MAJUMDER
(ACCOUNTANT)
(42 Points)
Replied 20 June 2017
CAclubindia
