Transfer of input tax credit triggers reduction of central tax and mandated transfer to integrated tax account. When input tax credit is utilised for payment of integrated tax and reflected in a valid return, the central tax amount is reduced by the amount so utilised and the Central Government must transfer an equal amount from the central tax account to the integrated tax account in the prescribed manner and time.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Transfer of input tax credit triggers reduction of central tax and mandated transfer to integrated tax account.
When input tax credit is utilised for payment of integrated tax and reflected in a valid return, the central tax amount is reduced by the amount so utilised and the Central Government must transfer an equal amount from the central tax account to the integrated tax account in the prescribed manner and time.
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