MURALIDOSS (INCOME TAX PRACTITIONER) (1303 Points)
23 February 2020SIR,
I HAVE TO PAY CENTRAL TAX 562187/- AND STATE 562187/- TOTAL -1124374/-
HERE I HAVE AVAILABLE TAX -- IGST -168559/- CENTRAL TAX 475110/- AND STATE -475110/- TOTAL-1118779/-
BALANCE 5595/- NEED TO PAY.
BUT CENTRAL TAX IT WILL AUTOMATICALLY TAKEN ONLY -393628/- AND ALSO SHOWING AVAILABLE BAL- 81482/-
IF I CHANGE TO 475110/- IN CENTRAL IT WONT BECOME GREEN .
ANYTHING MISTAKE ?
Deepak Gupta
(CA Student)
(15922 Points)
Replied 23 February 2020
| Because portal is setting off complete IGST ITC with CGST liability | |||
| But IGST credit may be utilized for payment of CGST or SGST in any order | |||
| So, first, set-off IGST ITC 50-50 between CGST and SGST | |||
| Now, after exhausting IGST ITC, use CGST and SGST ITC | |||
| IGST | CGST | SGST | |
| Tax Payable | 5,62,187.00 | 5,62,187.00 | |
| ITC | 1,68,559.00 | 4,75,110.00 | 4,75,110.00 |
| CGST paid from IGST ITC | 84,280.00 | ||
| SGST paid from IGST ITC | 84,279.00 | ||
| CGST paid from CGST ITC | 4,75,110.00 | ||
| SGST paid from SGST ITC | 4,75,110.00 | ||
| Balance ITC | - | - | - |
| Balance Payable | - | 2,797.00 | 2,798.00 |
M.Siva Subramanyam
(accountant)
(64 Points)
Replied 23 February 2020
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 23 February 2020
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1303 Points)
Replied 23 February 2020
YES I DO THE SAME ALSO LIKE MR. DEEPAK SIR,
BUT IT STILL SHOWING RED IN CENTRAL TAX.
MAY I PROCEED WITH THE
Balance Payable - 2,797.00 2,798.00
EVEN THOUGH RED IN CENTRAL TAX COLUMN?
Kamlesh Tolani
(accountant)
(562 Points)
Replied 24 February 2020
Pankaj Rawat
(GST Practitioner)
(55047 Points)
Replied 28 February 2020
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