Receipt of goods and services inter-State but supply of goods and services within the State :
Illustration- Value of supply of goods and services within state- Rs 1,200. SGST and IGST rate on supply of goods and services is 10% each. Value of receipt of goods and services inter-State- Rs 1,000. IGST rate on receipts is 20%.
Details SGST CGST IGST
Tax payable on intra-state supply of goods and services of Rs 1,200 120 120
Input tax credit of taxes paid on input goods and services of Rs 1,000 available in Electronic Credit Ledger 200
Net tax payable by cash by the dealer 40 Nil Nil
IGST credit should be utilized in sequence of IGST, CGST and SGST.
Since IGST credit of Rs 80 was utilized for payment of SGST by assessee, amount of Rs 80 will be credited by the Central Clearing Agency to that State, to ensure that the State gets entire tax of Rs 120 from that transaction.
Illustration – Value of supply of goods and services within state- Rs 100. SGST and IGST rate on supply of goods and services is 10% each. Value of supply of goods inter-state – Rs 1,100. Value of receipt of goods and services inter-State- Rs 1,000. IGST rate on receipts is 20%.
Details SGST CGST IGST
Tax payable on intra-state supply of goods and services of Rs 100 10 10
Tax payable on inter-state supply of goods and services of Rs 1,100 220
Input tax credit of taxes paid on input goods and services of Rs 1,000 available in Electronic Credit Ledger 200
Net tax payable by cash by the dealer in Electronic Cash Ledger 10 10 20
IGST credit should be utilized in sequence of IGST, CGST and SGST
Illustration – Value of supply of goods and services within state- Rs 1,100. SGST and IGST rate on supply of goods and services is 10% each. Value of supply of goods inter-state – Rs 100. Value of receipt of goods and services inter-State- Rs 1,000. IGST rate on receipts and supply is 20%.
Details SGST CGST IGST
Tax payable on intra-state supply of goods and services of Rs 1,100 110 110
Tax payable on inter-state supply of goods and services of Rs 100 20
Input tax credit of taxes paid on input goods and services of Rs 1,000 available in Electronic Credit Ledger 200
Net tax payable by cash by the dealer in Electronic Cash Ledger 40 Nil Nil
IGST credit should be utilized in sequence of IGST, CGST and SGST.
IGST credit of Rs 70 was used by dealer for payment of SGST. Hence Rs 70 will be credited by Central Clearing Agency to that State to ensure that the State gets entire Rs 110 from this transaction.
Illustration- Value of supply of goods and services within state- Rs 600. SGST and IGST rate on supply of goods and services is 10% each. Value of supply of goods inter-state – Rs 600. Value of receipt of goods and services inter-State- Rs 1,000. IGST rate on receipts and supply is 20%.
Details SGST CGST IGST
Tax payable on intra-state supply of goods and services of Rs 600 60 60
Tax payable on inter-state supply of goods and services of Rs 600 120
Input tax credit of taxes paid on input goods and services of Rs 1,000 available in Electronic Credit Ledger 200
Net tax payable by cash by the dealer in Electronic Cash Ledger 40 Nil Nil
IGST credit should be utilized in sequence of IGST, CGST and SGST.
IGST credit of Rs 20 was utilized by dealer for payment of SGST. Hence Rs 20 will be credited by Central Clearing Agency to the account of State
Illustration – Value of supply of goods and services within state- Rs 600. SGST and IGST rate on supply of goods and services is 10% each. Value of supply of goods exported – Rs 600. Value of receipt of goods and services inter-State- Rs 1,000. IGST rate on receipts is 20%.
Details SGST CGST IGST
Tax payable on intra-state supply of goods and services of Rs 600 60 60
Tax payable on exports of Rs 600 Nil
Input tax credit of taxes paid on input goods and services of Rs 1,000 available in Electronic Credit Ledger 200
Net tax payable by cash by the dealer in Electronic Cash Ledger Nil Nil Nil
IGST credit should be utilized in sequence of CGST and SGST. The balance input tax credit of IGST Rs 80 can be carried forward in Electronic Credit Ledger.
The Central Agency will credit account of State by Rs 60 as the State is expected to get Rs 60 from this transaction.