Input tax credit utilisation order under GST governs how tax credits are applied toward payment of tax liabilities. Input tax credit utilisation under the GST law is regulated by a provision empowering the Government, on the recommendations of the Council, to prescribe the order and manner in which credit of integrated tax, central tax, State tax and Union territory tax is to be applied towards payment of those taxes. The rule operates notwithstanding the general provisions of the Chapter and remains subject to the specified restrictions in section 49(5)(e) and 49(5)(f), thereby governing the sequence of credit adjustment for tax payment.
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 tax credit utilisation order under GST governs how tax credits are applied toward payment of tax liabilities.
Input tax credit utilisation under the GST law is regulated by a provision empowering the Government, on the recommendations of the Council, to prescribe the order and manner in which credit of integrated tax, central tax, State tax and Union territory tax is to be applied towards payment of those taxes. The rule operates notwithstanding the general provisions of the Chapter and remains subject to the specified restrictions in section 49(5)(e) and 49(5)(f), thereby governing the sequence of credit adjustment for tax payment.
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