Utilizing Input Tax Credit (ITC) in respect of IGST, CGST, Cess and SGST/UTGST

Input tax shall be credited to electronic credit ledger on the basis of return filed by taxable person. The amount available in electronic credit ledger may be used for payment of output tax liability in sequence mentioned below but it cannot be used for making payment of interest, penalty, fees etc.

Input tax credit in respect of IGST, CGST, Cess and SGST/UTGST can be utilized in following sequence:

Input Tax Credit

Tax Credit Utilization Preference

IGST

IGST

CGST

SGST

X

CGST

CGST

IGST

X

X

SGST

SGST

IGST

X

X

Cess

X

X

X

Cess

Credit of CGST cannot be setoff with Credit of SGST and vice versa. Credit of one state of SGST cannot be setoff with SGST of another state. TIC of Cess will be utilized for Cess only.

 
Related Topics ....
Conditions For Taking ITC ( Input Tax Credit) under GST
Limitations On Availing ITC (Input Tax Credit) under GST
Determination Of Input Tax Credit (ITC) In Respect Of Inputs Or Input Services ( Rule-7 of ITC Rules)
Determination Of Input Tax Credit (ITC) In Respect Of Capital Goods (Rule-7 of ITC Rules)
Restrictions On Availing ITC ( Input Tax Credit ) under GST
Utilizing Input Tax Credit (ITC) in respect of IGST, CGST, Cess and SGST/UTGST
Availability Of Input Tax Credit (ITC) In Certain Special Circumstances under GST
Transfer, Reversal Of Input Tax Credit (ITC) Under GST
Distribution Of Credit By Input Services Distributor (ISD) under GST
   
   
   
   
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