The Table below highlights the differences between the old system and the new system of set-off of Input Tax credit-
As per the existing set off the following rules apply –
| Payment for | First set off from | Then set off from |
| SGST | SGST | IGST |
| CGST | CGST | IGST |
| IGST | IGST | CGST and SGST |
As per rules effective 1st February 2019, the following rules will apply for any tax payments made –
| Payment for | First set off | Then set off |
| SGST | IGST | SGST |
| CGST | IGST | CGST |
| IGST | IGST | CGST and SGST |
This Validation based on changes in the rules , is to be updated in the GST Portal For filing GSTR -3B.
In GSTR -3B it automatically Offsets the Liabilities with ITC, That is the system Sets off the Credits with the liabilities Without Manual Intervention.Hence, taxpayers are relieved as there is no Manual Intervention and Payment can be made after clicking Make payment post credit to ledger Manual payment Errors could be avoided.
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