In order to set off the tax liability of central tax, integrated tax and state tax under GST as follows.
You have to set-off the above tax liability as per the below following order.
Output Tax details as follows
Central tax (CGST) payable on outward supply of Rs.20,000
Integrated tax (IGST) payable on outward supply of Rs.26,000
State tax (SGST) payable on outward supply of Rs.20,000
Input tax details as follows
Central tax (CGST) paid on purchases of Rs.16,000
Integrated tax (IGST) paid on purchases of Rs.32,000
State tax (SGST) pad on purchases of Rs.16,000
Output IGST – Input IGST
26,000 – 32,000 = – 6,000 Available Input IGST
Output CGST – Input CGST
20,000 – 16,000 = 4,000 CGST payable amount
Output SGST – Input SGST
20,000 – 16,000 = 4,000 SGST payable amount
As per the above example available input IGST amount is Rs.6,000 after set-off input IGST.
As per the above example CGST payable amount is Rs.4,000 after set-off input CGST and you can adjust available input IGST against CGST payable.
CGST Payable amount is Rs.4000
Less: Adjust available input IGST paid on purchases Rs.4000
Now, the CGST Payable is “Zero”
Available input IGST is Rs. 2,000 (6,000- 4,000)
You cannot set-off available input SGST against CGST payable amount
As per the above example SGST payable amount is Rs.4,000 after set-off input SGST and you can adjust available input IGST against SGST payable.
SGST payable amount is Rs.4,000
Less: Available input IGST is Rs. 2,000
Net SGST Payable amount is Rs. 2,000
Path: Gateway of Tally -> Accounting vouchers -> F7 Journal
Click on Stat Adjustment
Type of duty/tax: GST
Nature of adjustment: Decrease of Tax Liability
Additional Details: Adjustment against Credit
Output IGST Dr 26,000
To Input IGST 26,000
Output CGST Dr 4,000
To Input IGST 4,000
Output SGST Dr 2,000
To Input IGST 2,000
Sales to Consumers under GST in Tally ERP9
Recording of GST Inter-State Purchases in Tally ERP9
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