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