Hello, hello, good morning, good evening, good afternoon.
Good morning, good evening, good evening, good evening,
good evening.
Good morning, good evening, good evening, good evening,
good evening.
So I will tell you that the tax that you have paid to your
purchaser, sorry sorry, the tax
that you have paid to the seller, the one with whom you
have bought the goods, the one with whom you have bought
the goods, that tax has been paid, that thing will be
minused here, in different heads.
Now see how to do it.
Try to understand the clear cut, how to do it, try to do it.
So I will tell you that the tax that you have paid to your
purchaser, the one with whom you have bought the goods,
that tax has been paid, that thing will be minused here, in
different heads.
Now see how to do it.
Try to understand the clear cut, how to do it.
So I will tell you that the tax that of IGST.
You can utilize this.
10 crore was the output of IGST, 8 crore was the input of
IGST.
I have utilized that.
Now, how much do I have to deposit from my pocket to the
government? 2 crore.
What is IGST?
This is the point.
Sir, 2 crore IGST has to be deposited from your pocket.
Why should I deposit from my pocket?
Is it not possible that I have some CGST ITC here?
Is it not possible that I have SGST ITC and utilize it here?
Sir, it is absolutely possible.
There are some conditions.
I will tell you later.
It is absolutely possible.
You can utilize it.
If you still have some balance left, like if you had 2
crore rupees here to pay,
So what you have to do is to ask for help from CGST.
ITC of CGST.
You can utilize this, my friend.
Minus this.
Assume that the ITC of CGST was of only 1 crore rupees.
Here the liability battery was of 2 crores.
You have taken 1 crore rupees from CGST.
How much do you have left? 1 crore.
Now you have to deposit this 1 crore from your own pocket.
Earlier you had to deposit 2 crores.
You took the ITC.
Now 1 crore is left.
Sir, now the 1 crore that is left, should I deposit that
also from my own pocket?
Isn't it possible that there is a credit of SGST?
Should I utilize that credit of SGST here?
Should I be saved?
Should I get less money from my own pocket?
Is it possible?
Sir, it is absolutely possible.
It is absolutely possible.
If you have a credit of SGST, then you can also minus the
ITC of SGST here.
Here, minus it.
But you have to minus the credit of SGST only when CGST has
already helped you.
Don't reach SGST earlier.
SGST will not reach earlier when CGST has already helped
you.
Or if there is no credit of CGST, then SGST comes.
SGST does not come earlier.
This order is valid.
If you have utilized the credit of IGST, but still there is
some money left, then utilize the credit of CGST first,
credit, ITC, then SGST.
And then you can make your payment.
Even after that, if there is some money left, then we
cannot do anything.
Then you have to deposit the output tax from your own
pocket.
Did you understand the point?
Is it clear?
Now let's go to the second situation.
What does the second situation say?
Sir, the second situation says...
Let's see what it says.
The second situation says that the output of IGST was of Rs.
10 crores and the input of IGST was of Rs.
15 crores.
The liability of Rs. 10 crores was there.
The output of Rs. 10 crores was there.
You had Rs. 15 crores to make the payment.
You had the ITC of Rs. 15 crores.
So what did you do?
You made the payment of Rs. 10 crores.
But you still had Rs. 5 crores.
Now what should I do?
Should I take it with me and go up?
Sir, it is written in Bhagavad Gita that whatever you had
brought with you, what will you take with you?
Whatever is there will remain here.
Sir, I cannot take anything with me and go up.
I will have to finish it somewhere here.
And how will you finish it somewhere here?
Same, come to this.
This output is CGST.
Before this, I will utilize the ITC of CGST.
If you assume
that the payment of the output is done, then it is well and
good.
It is a very good thing.
Well and good.
Assume that if the payment is not done, then the Rs.
5 crores that I had left,
IGST, I can bring it here and I can make the payment of it.
But I can only do this if, assume, if something is left
here.
It is possible that the CGST guy has done it himself.
Then I don't need it.
Sir, still if something is left, then it is fine.
If you make the payment of SGST, then utilize the SGST
first.
If something is left, then if the IGST or ITC is left, then
utilize it.
This will be your point.
In this whole chart, one thing is not possible.
And that is possible that CGST
CGST and SGST, their ITC, can't use each other's ITC.
The reason is simple.
CGST is the collection of the central government.
It goes to the central government.
SGST goes to the state government.
So they can't give credit to each other.
So if CGST is liable, then you can't minus the credit of
SGST from the output of CGST.
And similarly, when you get the output of SGST, then you
can't minus the ITC of CGST.
Sir, keep all these things in mind.
And one more thing, whatever work you do, in that first,
whatever calculation you do, utilize the IGST and ITC first.
You get the question, try to finish the IGST and ITC first.
After that, move to the next step.
Sir, you have removed the IGST from CGST.
You have removed this too.
This is not a fixed percentage.
Sir, you don't have to remove 50-50.
You can remove it in any order.
You can remove it in any proportion.
You can give all of it in SGST.
You can give all of it in CGST.
There is no limit to this order.
This is the point, sir.
Let's read it once.
Then we will finish our chapter.
Let's see what it says.
See.
Interstate
Interstate CGST, SGST
IGST Customs ITC of CGST and SGST interchangeable
Utilize IGST of ITC for payment of CGST and SGST
ITC of CGST and SGST interchangeable