https://www.taxtmi.com/article/detailed?id=9456 The order of utilisation of input tax credit determines application of IGST, CGST and SGST balances; after rule changes taxpayers may now allocate residual IGST in any proportion between CGST and SGST. Portal suggestions may default to an earlier sequencing that exhausts IGST toward CGST first, so taxpayers must edit suggested set-offs in returns where lawful to avoid CGST accumulation and unnecessary cash outflows. Practical steps include editing return entries to distribute IGST residuals, using central credits against IGST liabilities where appropriate, and employing permitted payment-adjustment procedures to reclassify tax payments. en-us Mon, 07 Sep 2020 10:08:24 +0530 Mon, 07 Sep 2020 10:08:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9456 The order of utilisation of input tax credit determines application of IGST, CGST and SGST balances; after rule changes taxpayers may now allocate residual IGST in any proportion between CGST and SGST. Portal suggestions may default to an earlier sequencing that exhausts IGST toward CGST first, so taxpayers must edit suggested set-offs in returns where lawful to avoid CGST accumulation and unnecessary cash outflows. Practical steps include editing return entries to distribute IGST residuals, using central credits against IGST liabilities where appropriate, and employing permitted payment-adjustment procedures to reclassify tax payments. Articles Goods and Services Tax - GST Mon, 07 Sep 2020 10:08:24 +0530 https://www.taxtmi.com/article/detailed?id=9456