our July month detail
Output Cgst& sgst-480000each& igst- 2600000
input Cgst &sgst- 686000& igst- 1246000
please clarify this
9 Replies
Sabareesh
(Consultant in Tax)
(524 Points)
Replied 15 August 2019
first exhaust your IGST and then use respective GST input
Dharma Lingam
(72 Points)
Replied 15 August 2019
sir Actually output igst Excess of Input ITC in Igst so we have to pay in Igst or Settoff the Igst using cgst and sgst
Sabareesh
(Consultant in Tax)
(524 Points)
Replied 15 August 2019
first setoff output cgst and sgst against input cgst and sgst... balance you can setoff against output igst
Dharma Lingam
(72 Points)
Replied 15 August 2019
as per 49A First Settoff the Igst after sgst or cgst but u have to said opposite that rules which one is correct
Sabareesh
(Consultant in Tax)
(524 Points)
Replied 15 August 2019
but when you already have sgst and cgst output for which you have cgst and sgst input, you can't use that input against igst output..use 1246000 against 2600000...use 480000 out of 686000 to pay 480000 and then balance use against remaining igst output...this is when 49 read with 49A
Pavan Kulkarni
(38 Points)
Replied 15 August 2019
as per new rule ,you have to compulsorily exhaust credit available under igst .
you have an option of utlising cgst credit against liability of igst or cgst .
accordingly you have to make cash payment of balance liability.
you have an option of utlising cgst credit against liability of igst or cgst .
accordingly you have to make cash payment of balance liability.
Sabareesh
(Consultant in Tax)
(524 Points)
Replied 15 August 2019
but 49A says to use igst credit first but never told to exhaust igst liability first..
Dharma Lingam
(72 Points)
Replied 15 August 2019
If it is for each:

please Explain abovementioned amount in table format

please Explain abovementioned amount in table format
Paramasivan Lingan
(55 Points)
Replied 16 August 2019
First, ITC of IGST needs to be used to set off IGST Liability.
Second, ITC of IGST needs to be used to set off CGST or SGST Liability, in any order or proportion. Make sure that ITC of IGST is exhausted before moving ahead.
Third, ITC of CGST or SGST can be used to set off other liability as applicable in below mentioned order.
ITC of CGST with CGST then IGST
ITC of SGST with SGST then IGST
Second, ITC of IGST needs to be used to set off CGST or SGST Liability, in any order or proportion. Make sure that ITC of IGST is exhausted before moving ahead.
Third, ITC of CGST or SGST can be used to set off other liability as applicable in below mentioned order.
ITC of CGST with CGST then IGST
ITC of SGST with SGST then IGST
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