Utilisation of Integrated Tax Credit must be exhausted first, allowing flexible allocation to central and state liabilities thereafter. Integrated tax credit must be fully exhausted before central or state input credits can be used; integrated credit may be applied toward central and state output liabilities in any order and proportion provided the integrated credit is completely consumed first. The rule permits flexible apportionment of integrated credit across output liabilities and the circular exemplifies allocation options, noting temporary continuation of existing portal functionality until system changes are implemented.
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.
Utilisation of Integrated Tax Credit must be exhausted first, allowing flexible allocation to central and state liabilities thereafter.
Integrated tax credit must be fully exhausted before central or state input credits can be used; integrated credit may be applied toward central and state output liabilities in any order and proportion provided the integrated credit is completely consumed first. The rule permits flexible apportionment of integrated credit across output liabilities and the circular exemplifies allocation options, noting temporary continuation of existing portal functionality until system changes are implemented.
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