Sir,
While set off GST liability , can we use cash ledger balance first instead of using ITC .
Because we have good amount of cash balance due to the TDS recovered under GST by our PSU customers.
WE want to use the same
Please advice
sundaram (finance manager) (42 Points)
04 March 2019Sir,
While set off GST liability , can we use cash ledger balance first instead of using ITC .
Because we have good amount of cash balance due to the TDS recovered under GST by our PSU customers.
WE want to use the same
Please advice
dongsung precision
(9 Points)
Replied 04 March 2019
| Taxable Value | IGST | CGST | SGST | |||
| O/S | 4,45,95,071.35 | 61,05,696.56 | 61,05,696.56 | |||
| RCM Supply | 8,58,114.00 | 77,230.26 | 77,230.26 | |||
| 28,248.00 | 706.20 | 706.20 | ||||
| Total tax to be pay | 61,83,633.02 | 61,83,633.02 | 1,23,67,266.04 | |||
| ITC | 79,55,350.35 | 18,28,097.24 | 18,28,097.24 | |||
| Total ITC | 79,55,350.35 | 18,28,097.24 | 18,28,097.24 | 1,16,11,544.84 | ||
| 7,55,721.20 | Payable Non RCM | |||||
| RCM Supply | 8,58,114.00 | 77,230.26 | 77,230.26 | |||
| 28,248.00 | 706.20 | 706.20 | 1,55,872.92 | |||
| 9,11,594.12 | Net Payable |
please guide me which one is correct to pay (Non RCM amount or Net payable Amount?)
M.M Sachora
(Tax Professional & Advisor)
(1421 Points)
Replied 04 March 2019
dongsung precision
(9 Points)
Replied 04 March 2019
have to pay rs, 1,55,872 on cash payment mode is it correct sir
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