GST Input tax Credit Set off Rules Changed from 01.02.2019

By | February 9, 2019
(Last Updated On: February 9, 2019)

GST Input tax Credit Set off Rules Changed from 01.02.2019

इनपुट टैक्स क्रेडिट नियम बदल दिया गया

The criteria for setting off of Input Tax Credit (ITC) has been changed under GST thru Central Goods & Services Tax (Amendment) Act 2018, which has been made effective from 1st February 2019.

As per old rules, following was the priority of set-off of ITC was as below:

  • For CGST Output – First set off thru ITC of CGST, then IGST
  • For SGST Output – First set off thru ITC of SGST, then IGST
  • For IGST Output – First set off thru ITC of IGST, then CGST & then SGST

As per CGST (Amendment) Act 2018, the priority of set-off of ITC is as below:

  • For CGST Output- First set off thru ITC of IGST, then CGST
  • For SGST Output – First set off thru ITC of IGST, then SGST
  • For IGST Output – First set off thru ITC of IGST, then CGST & then SGST

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