The GST portal has introduced a highly anticipated functionality allowing taxpayers to utilize CGST or SGST credit in any order to pay IGST liability after exhausting IGST credit.
Key Benefits
Improved Cash Flow: Significantly reduce unnecessary cash payments and avoid blocked credits.
Enhanced Flexibility: Total freedom to use CGST or SGST ITC in any order for IGST liabilities.
Simplified Compliance: Better control over credit utilization summaries with a reduced administrative burden.
How It Works
- Step 1: Fully exhaust your available IGST ITC to pay off IGST liability.
- Step 2: Choose between CGST or SGST ITC in any order or proportion to pay the remaining IGST balance.
Important: This update applies to all GSTR-3B filers. While it changes the utilization sequence, it does not alter the underlying eligibility rules of Input Tax Credit. Always verify your utilization summary before final submission.
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