Input tax credit distribution: ISD must allocate credit pro rata by recipient turnover under prescribed documentary attribution rules. An Input Service Distributor must distribute input tax credit by issuing a prescribed document and may classify State and integrated tax as prescribed. Distribution cannot exceed available credit and is allowed only against prescribed documents. Credit attributable solely to a recipient must go only to that recipient; where attributable to multiple recipients, allocation must be pro rata based on each recipient's turnover in the State or Union territory during the relevant period relative to the aggregate turnover of operational recipients. Relevant period and definitions of recipient and turnover are prescribed.
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.
Input tax credit distribution: ISD must allocate credit pro rata by recipient turnover under prescribed documentary attribution rules.
An Input Service Distributor must distribute input tax credit by issuing a prescribed document and may classify State and integrated tax as prescribed. Distribution cannot exceed available credit and is allowed only against prescribed documents. Credit attributable solely to a recipient must go only to that recipient; where attributable to multiple recipients, allocation must be pro rata based on each recipient's turnover in the State or Union territory during the relevant period relative to the aggregate turnover of operational recipients. Relevant period and definitions of recipient and turnover are prescribed.
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