Question

Explain the rules relating to GST credit set off​

Answer 1

Answer:

IGST Input Tax Credit should be first used for payment of IGST Output Tax liability. Then Remaining IGST ITC can be used for either CGST or SGST/UTGST in any order or any proportionate amount (like 50:50, 30:70, 60:40 etc). The entire IGST ITC should be used fully before using ITC of CGST or SGST/UTGST.

Answer 2

Answer:

IGST Input Tax Credit should be first used for payment of IGST Output Tax liability. Then Remaining IGST ITC can be used for either CGST or SGST/UTGST in any order or any proportionate amount (like 50:50, 30:70, 60:40 etc). The entire IGST ITC should be used fully before using ITC of CGST or SGST/UTGST.

Explanation:

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