Transfer of input tax credit requires State tax reduction and transfer to the integrated tax account when credit is used for IGST. When input tax credit availed under this Act is utilised for payment of Integrated Goods and Services Tax and reflected in a valid return, the amount collected as State tax is reduced by an equal amount and the State Government shall transfer that equal amount from the State tax account to the integrated tax account in the manner and within the time prescribed.
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Provisions expressly mentioned in the judgment/order text.
Transfer of input tax credit requires State tax reduction and transfer to the integrated tax account when credit is used for IGST.
When input tax credit availed under this Act is utilised for payment of Integrated Goods and Services Tax and reflected in a valid return, the amount collected as State tax is reduced by an equal amount and the State Government shall transfer that equal amount from the State tax account to the integrated tax account in the manner and within the time prescribed.
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