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
3 Replies
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
Dear @ Sundaram if you use Cash then ITC balance accumulated.. Over a time and my advice is that practically do one time through cash mode if system accepted then it is best for you otherwise you can go through ITC mode.. Then cash..
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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