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of <h1>New Rules for Input Tax Credit Utilization: Sections 49A and 49B Define Tax Credit Use and Order for GST Payments.</h1> Sections 49A and 49B of the Central Goods and Services Tax (Amendment) Act, 2018, establish conditions for the utilization of input tax credit. Section 49A mandates that input tax credit for central, state, or union territory tax can only be used after fully utilizing the input tax credit available for integrated tax. Section 49B allows the government, based on the Council's recommendations, to prescribe the order and manner of utilizing input tax credit for integrated, central, state, or union territory taxes towards tax payments.
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