Question ID : 38059

UTILIZATION OF ITC UNDER GST

My total liability under gst is CGST 24,00,000 and SGST 24,00,000. I had available itc in credit ledger IGST 33,00,000, CGST 2,72,000 and SGST 2,72,000 and in cash Ledger CGST 5,72,000 and SGCT 5,72,000. My calculation is CGST Liabi. 24,00,000-2,72,000(CGST credit)-5,72,000 (Cash ledger)-15,56,000(IGST Credit)=0 SGST Liab. 24,00,000-2,72,000(CGST credit)-5,72,000 (Cash ledger)-15,56,000(IGST Credit)=0 ITC in credit ledger is IGST =188000. Whether it is correct.

posted by MAHADEO VIRUPAX WALI on Mar 28 2019 12:00AM