Which one of the following is NOT true regarding input tax credit to avoid cascading effect?
1
Input Tax credits of SGST can be utilised for payment of SGST first and balance for payment of IGST on outward supply
2
Input Tax credit of UTGST can be utilised for payment of UTGST first and balance for payment of IGST on outward supply
3
Input Tax credit of SGST/UTGST can be utilised for payment of CGST
4
Input Tax credit of CGST can be utilised for payment of CGST first and balance for payment of IGST on outward supply