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Commerce · Q74

Legal Aspects of Business

Graduate and Post Graduate · Commerce · question 74

Q74

Which of the following statements is true?

A.
ITC of CGST is first utilized for payment of CGST and the balance is utilized for payment of SGST/UTGST
B.
ITC of SGST is first utilized for payment of SGST and the balance is utilized for payment of CGST
C.
ITC of CGST is first utilized for payment of CGST and the balance is utilized for payment of IGST
Answer
D.
All of the above

Answer: Option C

Solution

Answer: Option C
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