MTP 2 Query IDT
Komal Khatuja (STUDENT) (43 Points)
04 June 2019
Could someone explain ans to mcq q no 7 for which ans is "d" pertaining to CGST/SGST/IGST calculation
4 Replies
Kamlesh Choudhary
(india)
(336 Points)
Replied 04 June 2019
on 2lac-CGST 18000 and SGST 18000
on (40000+60000)-Igst 18000
1)Now Cgst credit of 10000 will be utilised for Against Above CGST liability of 18000 and balance CGST liability=8000
2)SGST credit of 20000 for CGST liability of 18000 and balance 2000 for IGST thus balance SGST liability =Nil
3)For IGST liability we will utilise balance credit of SGST rs.2000 Thus IGST balance liability=16000
Hope You catch it.
on (40000+60000)-Igst 18000
1)Now Cgst credit of 10000 will be utilised for Against Above CGST liability of 18000 and balance CGST liability=8000
2)SGST credit of 20000 for CGST liability of 18000 and balance 2000 for IGST thus balance SGST liability =Nil
3)For IGST liability we will utilise balance credit of SGST rs.2000 Thus IGST balance liability=16000
Hope You catch it.
Kamlesh Choudhary
(india)
(336 Points)
Replied 04 June 2019
Sorry the above point 2) read as
2)SGST credit of 20000 for SGST liability of 18000 and balance 2000 for IGST thus balance SGST liability =Nil
I.e. "SGST credit of 20000 for SGST" instead of "SGST credit of 20000 for CGST" that was a typing error
2)SGST credit of 20000 for SGST liability of 18000 and balance 2000 for IGST thus balance SGST liability =Nil
I.e. "SGST credit of 20000 for SGST" instead of "SGST credit of 20000 for CGST" that was a typing error
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