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of <h1>Section 53 Mandates Transfer of Input Tax Credit from State to Integrated Tax Account Under GST Act 2017</h1> Section 53 of the Uttarakhand Goods and Services Tax Act, 2017, addresses the transfer of input tax credit. When input tax credit is utilized for paying tax dues under the Integrated Goods and Services Tax Act, as per section 49(5) and indicated in the valid return under section 39(1), the State tax amount is reduced by the utilized credit. Consequently, the State Government must transfer an equivalent amount from the State tax account to the integrated tax account, following the prescribed manner and timeline.
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