Input tax credit utilization: Integrated tax credit must be exhausted first before using central or state tax credit. Clarifies that ITC on account of Integrated Tax must be completely exhausted before ITC of Central Tax or State/Union Territory Tax can be utilized, while allowing Integrated Tax credit to be applied towards Central and State/Union Territory liabilities in any order and proportion provided the entire Integrated Tax credit is first exhausted.
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Provisions expressly mentioned in the judgment/order text.
Input tax credit utilization: Integrated tax credit must be exhausted first before using central or state tax credit.
Clarifies that ITC on account of Integrated Tax must be completely exhausted before ITC of Central Tax or State/Union Territory Tax can be utilized, while allowing Integrated Tax credit to be applied towards Central and State/Union Territory liabilities in any order and proportion provided the entire Integrated Tax credit is first exhausted.
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