regarding ITC
Pawan Agrawal (94 Points)
13 March 2019
Is there any changes in ITC rules , IGST itc only uses for IGST and CGST only from February
1 Replies
Dharam
(CA FINAL)
(164 Points)
Replied 13 March 2019
there is a change in itc utilisation rule from 1 Feb 2019,
first fully utilise IGST with output IGST then with cgst then with sgst
cross utilisation between cgst and sgst still not allowed
below is the equation for utilisation
OUTPUT IGST-INPUT IGST -INPUT CGST-INPUT SGST
OUTPUT CGST-INPUT IGST-INPUT CGST
OUTPUT SGST-INPUT IGST-INPUT SGST
first fully utilise IGST with output IGST then with cgst then with sgst
cross utilisation between cgst and sgst still not allowed
below is the equation for utilisation
OUTPUT IGST-INPUT IGST -INPUT CGST-INPUT SGST
OUTPUT CGST-INPUT IGST-INPUT CGST
OUTPUT SGST-INPUT IGST-INPUT SGST
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