GST Payment and Input Tax Credit Calculator

How to use TaxAdda's GST Payment and Input Tax Credit Calculator?

1. Step 1:You need to enter GST payable under IGST, CGST & SGST excluding GST payable under reverse charge.
2. Step 2:Enter Input tax credit available including balance of ITC carried forward from last period but excluding credit on account of Reverse charge.
3. Step 3:Enter GST payable under Reverse Charge mechanism, calculator will take its Input tax credit in same period to minimize cash outflow as ITC of GST paid under RCM is available immediately

How is optimum GST Input tax credit calculated?

For calculating optimum input tax credit, ITC is utilized in such a way that balance of ITC is after adjustment is NIL or minimum (in line with GST ITC Rules) & cash outflow for payment of GST is also minimum.

Related Links

• Input Tax Credit (ITC) under GST
• Order of Utilisation of Input Tax Credit Under GST
• Reverse Charge under GST - Explained with Examples