Input tax credit transfer required; State tax reduced and equivalent amount moved to integrated tax account. Where input tax credit availed under this Act is utilised for payment of tax dues under the Integrated Goods and Services Tax Act and reflected in a valid return, the amount collected as State tax shall be reduced by an amount equal to such credit and the State Government shall transfer an equal amount from the State tax account to the integrated tax account in such manner and within such time as may be 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 transfer required; State tax reduced and equivalent amount moved to integrated tax account.
Where input tax credit availed under this Act is utilised for payment of tax dues under the Integrated Goods and Services Tax Act and reflected in a valid return, the amount collected as State tax shall be reduced by an amount equal to such credit and the State Government shall transfer an equal amount from the State tax account to the integrated tax account in such manner and within such time as may be prescribed.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
