Input tax credit prioritisation requires integrated tax credit be exhausted before using central or state credits under rule 88A. Clarification explains that Section 49A mandates exhaustion of input tax credit attributable to integrated tax before using central or state/union territory tax credits, and that rule 88A allows integrated-tax credit to be applied towards central and state/union territory liabilities in any order or proportion provided the integrated-tax credit is completely exhausted first; taxpayers may continue to follow current common portal functionality until the portal implements the new utilisation order.
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 prioritisation requires integrated tax credit be exhausted before using central or state credits under rule 88A.
Clarification explains that Section 49A mandates exhaustion of input tax credit attributable to integrated tax before using central or state/union territory tax credits, and that rule 88A allows integrated-tax credit to be applied towards central and state/union territory liabilities in any order or proportion provided the integrated-tax credit is completely exhausted first; taxpayers may continue to follow current common portal functionality until the portal implements the new utilisation order.
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