Transfer of input tax credit reduces state tax and mandates transfer to the integrated tax account under prescribed procedure. When input tax credit availed under the State Act is utilised for payment of Integrated Goods and Services Tax dues and reflected in the valid return, the amount collected as State tax is reduced by the credit so utilised and the State Government must transfer an equal amount from the State tax account to the integrated tax account in the prescribed manner and time.
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.
Transfer of input tax credit reduces state tax and mandates transfer to the integrated tax account under prescribed procedure.
When input tax credit availed under the State Act is utilised for payment of Integrated Goods and Services Tax dues and reflected in the valid return, the amount collected as State tax is reduced by the credit so utilised and the State Government must transfer an equal amount from the State tax account to the integrated tax account in the prescribed manner and time.
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