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What is the manner of utilization of CGST, SGST / UTGST and IGST?

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What is the manner of utilization of CGST, SGST / UTGST and IGST?
posted Feb 12, 2018 by Ananya Saha

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1 Answer

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(i) Input tax Credit of SGST can be utilised for payment of SGST first and balance for payment of IGST on outward supply.
(ii) Input tax Credit of UTGST can be utilised for payment of UTGST first and balance for payment of IGST on outward supply.
(iii) Input tax Credit of CGST can be utilised for payment of CGST first and balance for payment of IGST on outward supply.
(iv) Input tax Credit of IGST can be utilised for payment of IGST, CGST and SGST (in that order) on outward supply.

Input tax credit of CGST and SGST/UTGST is not inter-changeable.

answer Feb 13, 2018 by Nway Nadar
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