Posted on 06-02-2019:
Central Board of Indirect Taxes & Customs has changed the GST Set off Rules by inserting section 49A in CGST Act w.e.f. 01.02.2019.
The bare version of section 49A is as below.
“49A. Notwithstanding anything contained in section 49, the input tax credit on account of central tax, State tax or Union territory tax shall be utilised towards payment of integrated tax, central tax, State tax or Union territory tax, as the case may be, only after the input tax credit available on account of integrated tax has first been utilised fully towards such payment.”
“49A. Notwithstanding anything contained in section 49, the input tax credit on account of central tax, State tax or Union territory tax shall be utilised towards payment of integrated tax, central tax, State tax or Union territory tax, as the case may be, only after the input tax credit available on account of integrated tax has first been utilised fully towards such payment.”
Old GST Set off Rule
| Tax Credit to be Set Off | Order to utilisation |
| IGST Output | IGST Input -> CGST Input -> SGST Input |
| CGST Output | CGST Input -> IGST Input |
| SGST Output | SGST Input -> IGST Input |
New GST Set Off Rules w.e.f. 1st Feb 2019
| Tax Credit to be Set Off | Order to utilisation |
| IGST Output | IGST Input -> CGST Input -> SGST Input |
| CGST Output | IGST Input -> CGST Input (Changed w.e.f. 1-2-2019) |
| SGST Output | IGST Input -> SGST Input (Changed w.e.f. 1-2-2019) |
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