Utilization of Integrated tax credit must be exhausted first; allocation to central or state tax permitted thereafter with portal transition allowance. The circular clarifies that Integrated tax credit must be fully exhausted before credit of Central tax or State/Union Territory tax can be utilized. It explains that the amended statutory order requires Integrated tax credit to be applied first to Integrated tax liability and then, subject to full exhaustion, to Central and State/Union Territory liabilities. Rule-based flexibility permits allocation of Integrated tax credit towards Central and State/Union Territory liabilities in any order and proportion so long as Integrated tax credit is exhausted first, and taxpayers may use existing portal functionality until it is updated.
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.
Utilization of Integrated tax credit must be exhausted first; allocation to central or state tax permitted thereafter with portal transition allowance.
The circular clarifies that Integrated tax credit must be fully exhausted before credit of Central tax or State/Union Territory tax can be utilized. It explains that the amended statutory order requires Integrated tax credit to be applied first to Integrated tax liability and then, subject to full exhaustion, to Central and State/Union Territory liabilities. Rule-based flexibility permits allocation of Integrated tax credit towards Central and State/Union Territory liabilities in any order and proportion so long as Integrated tax credit is exhausted first, and taxpayers may use existing portal functionality until it is updated.
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