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Utilisation of Input Tax Credit – Section 49A & 49B read with Rule 88A of CGST ACT as clarified vide Circular No. 98/17/2019-GST Dated 23rd April 2019–
The new order of set off is resulting in blockage of ITC of SGST & CGST, resulting in payment of taxes by taxpayers.
Illustration:-
Description | Tax Payable (₹) | Paid through ITC | Tax/ Cess Payable in Cash (₹) | |||
Integrated Tax (₹) | Central Tax (₹) | State/UT Tax (₹) | Cess (₹) | |||
1 | 2 | 3 | 4 | 5 | 6 | 7 |
Other than reverse charge | ||||||
Integrated Tax | – | – | – | – | – | |
Central Tax | 103,802 | 28,064 | 95,564 | -19,826 | ||
State/ UT Tax | 103,802 | – | 95,564 | 8,238 | ||
Cess | – | – | – |
To Curve This – The new order of ITC utilization rule 88A is brought vide Notification no 16/2019 dated 29-03-2019 made effective from the 1st April 2019.
Meanwhile if ultimate tax (after taking the IGST input to pay CGST liability) is available to carry forward then we can utilize the IGST Input in proportionate basis.
(Republished with amendments)
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Hi Sir,
May i know is there any notification saying that the new sett off rules has been updated in the GST portal(July 2019) .
While paying, by mistake I paid in CGST whereas I had to pay in integrated tax. How to do the adjustment.
please advise.
i have downloaded your GST offset liability calculator as per new rule. Its very useful. i would like to point out one problem that in the sheet name proportionate manner reverse charges column formula is not update. Since on filing reverse charges amount in set off sheet , it should come by default in second sheet. moreover total tax payable including RCM is also showing without RCM payable. so please update it.
Sir I have downloaded GST offset calculator but unable to open the same,how to open it kindly guide me.