Input Service Distributor credit distribution: pro rata allocation among recipients based on State or Union territory turnover. Section 20 prescribes that an Input Service Distributor must distribute input tax credit by a prescribed document, may not exceed available credit, and must allocate credit attributable to individual recipients only to those recipients. Where input services are attributable to multiple or all recipients, distribution is to be made pro rata based on each recipient's turnover in the State or Union territory during the relevant period relative to the aggregate turnover of the recipients operational in the current year. Relevant period and definitions of 'recipient of credit' and 'turnover' are specified for application.
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 Service Distributor credit distribution: pro rata allocation among recipients based on State or Union territory turnover.
Section 20 prescribes that an Input Service Distributor must distribute input tax credit by a prescribed document, may not exceed available credit, and must allocate credit attributable to individual recipients only to those recipients. Where input services are attributable to multiple or all recipients, distribution is to be made pro rata based on each recipient's turnover in the State or Union territory during the relevant period relative to the aggregate turnover of the recipients operational in the current year. Relevant period and definitions of "recipient of credit" and "turnover" are specified for application.
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