camukeshruwatia | Feb 12, 2019 |
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.
In case of any Doubt regarding Membership you can mail us at [email protected]
Join Studycafe's WhatsApp Group or Telegram Channel for Latest Updates on Government Job, Sarkari Naukri, Private Jobs, Income Tax, GST, Companies Act, Judgements and CA, CS, ICWA, and MUCH MORE!"
