There would be settlement of account between the Centre and the states on two counts, which are as follows-
• Centre and the exporting state: The exporting state shall pay the amount equal to the ITC of SGST used by the supplier in the exporting state to the Centre.
• Centre and the importing state: The Centre shall pay the amount equal to the ITC of IGST used by a dealer for payment of SGST on intra- state supplies.
- The settlement would be on cumulative basis for a state taking into account the details furnished by all the dealer in the settlement period.
- Similar settlement of amount would also be undertaken between CGST and IGST account.
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