Question ID :
40688
In Case of reversal ITC can we reverse inter head net off balance (i.e. CGST & SGST netoff)
My question is with regards to reversal of ITC in textile sector, the quarry is as i have balance in CGST and SGST as against stock as on 31/07/2018 and electronic credit ledger in one CGST (-) while in SGST (+) so that we can reverse after set-off of minus balance against positive or we can reverse with respective head and pay interest thereon, in short at the time of reversal inter head adjustment is possible as per GST Law.
Posted by
CA. KAKADIYA BHARATKUMAR POPAT
on
Jun 15, 2020
Filed Under
GST
Answer ID :
80597
Reversal has to be against same head of tax. CGST to be reversed against input CGST, SGST to be reversed against Input SGST and so on. No Inter head adjustment possible. There is no concept of inter head adjustment in GST excepting utilization rules for payment of output tax.
Posted by
Amith Kumar Khadloya on
Jul 04, 2020