Input Service Distributor credit allocation: distribute input tax credit to recipients pro rata by turnover under prescribed conditions. Input Service Distributors must allocate input tax credit by issuing a prescribed document and may distribute credit only against such documents, not exceeding available credit. Credits attributable to a single recipient go solely to that recipient, while credits attributable to multiple recipients are allocated pro rata based on each recipient's turnover in the State or Union territory during the relevant period. The relevant period is generally the preceding financial year or, if turnover is unavailable, the last quarter before distribution. 'Recipient of credit' is a supplier sharing the same Permanent Account Number as the Input Service Distributor.
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 allocation: distribute input tax credit to recipients pro rata by turnover under prescribed conditions.
Input Service Distributors must allocate input tax credit by issuing a prescribed document and may distribute credit only against such documents, not exceeding available credit. Credits attributable to a single recipient go solely to that recipient, while credits attributable to multiple recipients are allocated pro rata based on each recipient's turnover in the State or Union territory during the relevant period. The relevant period is generally the preceding financial year or, if turnover is unavailable, the last quarter before distribution. "Recipient of credit" is a supplier sharing the same Permanent Account Number as the Input Service Distributor.
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