Transfer of input tax credit: utilisation for IGST reduces State tax and triggers transfer to integrated tax account. Where input tax credit under this Act is utilised for payment of Integrated GST dues and reflected in a valid return, the collected State tax amount is reduced by that credit 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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Provisions expressly mentioned in the judgment/order text.
Transfer of input tax credit: utilisation for IGST reduces State tax and triggers transfer to integrated tax account.
Where input tax credit under this Act is utilised for payment of Integrated GST dues and reflected in a valid return, the collected State tax amount is reduced by that credit 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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