Question

what does set off againist mean in gst​

Answer 1

Explanation:

Setting off means payment of tax u/s 49 to Government Exchequer towards tax liability using Credit / Cash Ledger by means of GST Returns or others. ... This input tax credit(ITC) gets credited in his credit ledger. Therefore, the taxpayer can utilize this credit to pay the taxes against supplies made.

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Answer 2

HEY MATE HERE IS YOUR ANSWER:-

In simple terms, the Rule 88A states that ITC credits of IGST should be first used to pay off liabilities under IGST and the balance credit in IGST can be used for paying CGST and SGST/ UTGST liabilities in any order.

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