I need to pay igst but by mistake paid in cgst & sgst , now what are the options for reducing That igst liability . I am thinking igst increased and reduce the cgst&sgst in the next is it possible ,kindly help me
thank you in advance
4 Replies
Dastagiri
(ipcc)
(79 Points)
Replied 01 October 2018
sir I have filed tran 1 regarding transitional credit of vat . that credit was reflecting electronic credit ledger. but at the time of filing of July month gstr3b return again I have taken 50% of cgst and 50% sgst .then after electronic credit ledger amount was increasing.that time I understood wrongly taken.now what is the rectification
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 01 October 2018
@ Mahesh
apply the refund for the cgst/sgst wrongly deposited & deposit the igst
apply the refund for the cgst/sgst wrongly deposited & deposit the igst
Harihar Mandal
(CA)
(504 Points)
Replied 01 October 2018
Adjustments of ITC of CGST/SGST with IGST possible, but adjustment of cash deposited not possible. Therefore, you have to pay IGST and claim for refund of CGST/SGST paid.
Pankaj Rawat
(GST Practitioner)
(55057 Points)
Replied 02 October 2018
@ Dastagiri
Reverse the same in your subsequent 3B under table Row 4(B)(2)
Note : Deposit interest @ 24℅ interest on same as per section 50(2) CGST Act
Reverse the same in your subsequent 3B under table Row 4(B)(2)
Note : Deposit interest @ 24℅ interest on same as per section 50(2) CGST Act
Recent Topics
- Loss adjust
- GST registration -rent Agreement
- Study partner for CA Final- Jan 26
- Sir, ITC is not showing in GSTR-3B, what to do
- Capital Gains on Industrial Property...
- While making correction in form-26QB getting - Maj
- Late interest penalty of missed invoice forgot to
- LONG TERM CAPITAL GAIN ON HOUSE
- WOS in Mauritius, LRS,Accounting
- AP of Business under gst
Related Threads
Trending Online Classes
-
GST LIVE Certification Course - 42nd Weekend Batch(With Govt Certificate)
Industry Expert17 May 2025
CAclubindia
