Hi Experts,
Kindly please reslove this query.
Assuming i have taxpayable
IGST = 10,000
IGST ITC available = 0
After paying CGST & SGST I'm left with
Unutilized CGST = 8,000
Unutilized SGST = 8,000
Que1.
Now in what way can i offset my tax liabity to
pay IGST from CGST & SGST
Possiblity-A
Pay 5,000 through CGST
Pay 5,000 through SGST
Possiblity-B
Pay 8,000 through CGST
Pay 2,000 through SGST
Que2.
How is ITC balance carry forwarded.
Lets say in Possiblity-B
Will it be 0 CGST & 6000 SGST
OR
6,000 in totality
which can be used to offset all IGST, CGST & SGST
in future returns.
Thanks
CAclubindia
