What is input GST and output GST?Who is eligible for GST input credit?How do I adjust GST input?

 What is input GST and output GST?

Input Tax Credit means reducing the taxes paid on inputs from taxes to be paid on output. When any supply of services or goods is supplied to a taxable person, the GST charged is known as Input Tax. ... During the pre-GST era, cross-credit of VAT against service tax/excise or vice versa was not allowed.

Who is eligible for GST input credit?

A registered person (including an Input Service Distributor) can claim Input tax credit on the strength of the following conditions: a) He must possess a Tax invoice issued by the supplier of goods or services or both or Debit note issued by a supplier b) He must have received supply of goods or services or both

How do I adjust GST input?

As per CGST (Amendment) Act 2018, the priority of set-off of ITC is as below:

1. For CGST Output- First set off thru ITC of IGST, then CGST.
2. For SGST Output – First set off thru ITC of IGST, then SGST.
3. For IGST Output – First set off thru ITC of IGST, then CGST & then SGST.