Input Service Distributor credit distribution permits pro rata allocation of state and integrated tax credits based on recipient turnover. The Input Service Distributor shall distribute State and integrated tax credits by issuing a prescribed document; distribution must not exceed available credit and must allocate credit attributable to a single recipient only to that recipient. Credits attributable to multiple or all recipients are distributed 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. The relevant period is the preceding financial year or the last available quarter if turnover data is absent; recipient of credit is a supplier with the same PAN, and turnover excludes specified duties or taxes.
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Provisions expressly mentioned in the judgment/order text.
Input Service Distributor credit distribution permits pro rata allocation of state and integrated tax credits based on recipient turnover.
The Input Service Distributor shall distribute State and integrated tax credits by issuing a prescribed document; distribution must not exceed available credit and must allocate credit attributable to a single recipient only to that recipient. Credits attributable to multiple or all recipients are distributed 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. The relevant period is the preceding financial year or the last available quarter if turnover data is absent; recipient of credit is a supplier with the same PAN, and turnover excludes specified duties or taxes.
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