IGST in Credit Ledger
Sudhir Kulshreshtha (Advocate) (190 Points)
21 October 2024
Can IGST lying in credit ledger be used to set off liability of CGST and SGST.
1 Replies
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(7101 Points)
Replied 21 October 2024
Here's the order of utilization:
1. IGST credit shall first be utilized for paying IGST liability.
2. Any remaining IGST credit can be used for paying CGST liability.
3. Any remaining IGST credit after paying CGST liability can be used for paying SGST liability.
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