Input tax credit utilization: integrated tax must be exhausted first, then central or state credits may be applied. The circular clarifies that input tax credit of integrated tax must be completely exhausted before any central tax or state/union territory tax credit is utilized, while permitting the integrated credit to be applied towards central and state liabilities in any order and proportion; until the common portal implements this rule, taxpayers may continue to use the portal's existing utilization functionality.
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 utilization: integrated tax must be exhausted first, then central or state credits may be applied.
The circular clarifies that input tax credit of integrated tax must be completely exhausted before any central tax or state/union territory tax credit is utilized, while permitting the integrated credit to be applied towards central and state liabilities in any order and proportion; until the common portal implements this rule, taxpayers may continue to use the portal's existing utilization functionality.
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