GST ITC Setoff Order Changed wef 1st Feb. 2019
GST Amendment Act, 2018
New Provision Section 49A
“49A. Notwithstanding anything contained in section 49, the input tax credit on account of central tax, State tax or Union territory tax shall be utilised towards payment of integrated tax, central tax, State tax or Union territory tax, as the case may be, only after the input tax credit available on account of integrated tax has first been utilised fully towards such payment.
Proviso 5(c) “Provided that the input tax credit on account of State tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on account of central tax is not available for payment of integrated tax".
proviso 5(D) “Provided that the input tax credit on account of Union territory tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on account of central tax is not available for payment of integrated tax.
ORDER of ITC Credit Setoff is Simple
In All GST Liability Cases ( ICS )
1st IGST,
2nd CGST,
3rd SGST
Kindly Note: Setoff GST Liability for JANUARY 2019 Returns as per New Order IGST, CGST, SGST
Subscribe our Newsletter for regular updates WEBSITE
CA HARSHAD VAGHELA
H J VAGHELA & Co, Chartered Accountants
M) +91 81401 86390
E) caharshadvaghela@gmail.com
Add: SF-206 Maruti Plaza, Above Vijay Sales, Sardar Chowk Road, Nr. Vijay Park BRTS N.H. 8, Krishna Nagar, Naroda, Ahmedabad, Gujarat-382345.
