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of <h1>Section 53: Transfer of Input Tax Credit from Central to Integrated Tax Account Under GST Act 2017 Explained</h1> Section 53 of the Central Goods and Services Tax Act, 2017, addresses the transfer of input tax credit. When input tax credit is used for paying tax dues under the Integrated Goods and Services Tax Act, as per section 49(5) and reflected in a valid return under section 39(1), the central tax amount is reduced by the utilised credit. The Central Government must then transfer an equivalent amount from the central tax account to the integrated tax account in a prescribed manner and timeframe.
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