Скачать или смотреть CBIC Clarifies various issues on GST ITC Set off Rules

CBIC has recently clarified various issues on GST Input Tax Credit Set off Rules vide Circular No. 98/17/2019-GST. The Circular has clarified that IGST Credit will be first used to offset IGST Liability and thereafter it can be used to offset CGST and SGST/UGST liability in and order and in any proportion.
The Circular has also clarified that presently, the common portal supports the order of utilization of input tax credit in accordance with the old provisions. Therefore, till the new order of utilization as per new rules is implemented on the common portal, taxpayers may continue to utilize their input tax credit as per the functionality available on the common portal.
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