Order of Utilization of Input Tax Credit (ITC) under GST

Home Forums GST Order of Utilization of Input Tax Credit (ITC) under GST

This topic contains 1 reply, has 2 voices, and was last updated by  Yadhev 1 week ago.

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  • #6822

    admin
    Keymaster

    The amount of ITC on account of IGST is allowed to be utilized towards payment of IGST, CGST and SGST in that order.

    Similarly the amount of ITC on account of CGST is allowed to be utilized for payment of CGST and thereafter for payment of IGST.

    Further the amount of ITC on account of SGST is allowed to be utilized for payment of SGST and thereafter for payment of IGST. ITC of CGST cannot be utilized for payment of SGST liability and vice versa. (Section 37(5) of MGL and Section 7(5) of IGST Act)

  • #76488

    Yadhev
    Participant

    GST registration and good sources about the account creation is possible for all. The payments utilization and liable amount of payment to be given with this post. The section of payments and good sources are issued for the users at online. The converted procedure and some of essential method of calculating CGST is possible at online. Get more reviews and discussion from GST software

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