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