New GST Set off Rule in GST Act w.e.f. 01.02.2019

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New GST Set off Rule in GST Act w.e.f. 01.02.2019

W.E.F. 01.02.2019 GST set off Rule has been changed. Now a new order of utilization of ITC (IGST, CGST and SGST) has been introduced.

Tax Credit to be Set Off

IGST in old rule- IGST Input->CGST Input-> SGST Input

IGST in New rule- IGST Input->CGST Input-> SGST Input(w.e.f. 01.02.2019)

CGST in old rule- CGST Input->IGST Input

CGST in New rule- IGST Input->CGST Input (w.e.f. 01.02.2019)

SGST in old rule- SGST Input->IGST Input

SGST in New rule- IGST Input->SGST Input (w.e.f. 01.02.2019)

Please take care of the effects.

New GST Set off Rule in GST Act w.e.f. 01.02.2019

New GST Set off Rule in GST Act w.e.f. 01.02.2019

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Name : CA Mukesh Kumar Ruwatia
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