Input tax credit transfer: IGST reduced on utilisation and corresponding amounts moved to CGST or apportioned to SGST accounts. When input tax credit is utilised to pay CGST dues the IGST collected is reduced by that credit and the Central Government shall transfer an equal amount from the IGST account to the CGST account in the prescribed manner and time. When input tax credit is utilised to pay SGST dues the IGST collected is reduced by that credit, the reduced amount shall be apportioned between the State and Central Governments, and the Central Government shall transfer the apportioned amount to the appropriate State Government in the prescribed manner and time.
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Input tax credit transfer: IGST reduced on utilisation and corresponding amounts moved to CGST or apportioned to SGST accounts.
When input tax credit is utilised to pay CGST dues the IGST collected is reduced by that credit and the Central Government shall transfer an equal amount from the IGST account to the CGST account in the prescribed manner and time. When input tax credit is utilised to pay SGST dues the IGST collected is reduced by that credit, the reduced amount shall be apportioned between the State and Central Governments, and the Central Government shall transfer the apportioned amount to the appropriate State Government in the prescribed manner and time.
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