Dear Sir, We are registered under GST. We don’t have IGST Liability. But we have IGST ITC. Query- Can we initially , adjust IGST ITC from Output CGST & SGST in 50:50 Ratio ??
2) If we delay in filing GSTR-1 on quarterly basis, whether we need to pay Fine and Interest also ??
3) If yes, then how to pay as taxes/fines cannot be paid at the time of filing GSTR-1 ?
4) Should we change the adjustment pattern of Taxes appearing automatically by portal at the time of filing GSTR-3B ?
Frah Saeed Answered question June 4, 2020
- Yes, as per Sec 49 of the CGST Act you can do in any order or in any proportion.
- Only late fee for GSTR-1. Intt is for GSTR-3B.
- Pay through GSTR-3B.
- In light of Sec 49, you can choose for adjustment of IGST credit (remaining after setting of IGST liability) against CGST or SGST. Team Clearmytax.in
Frah Saeed Answered question June 4, 2020