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of <h1>ITC Utilization Order Under Section 49 CGST Act and Rule 88A Explained Clearly</h1> Input Tax Credit (ITC) under GST must be utilized in a specified order as per Section 49 of the CGST Act and Rule 88A. ITC on integrated tax is first applied to integrated tax liabilities, and any remaining balance can be used for central tax and state or union territory tax payments. ITC on central tax is primarily used for central tax payments, with any excess applied to integrated tax; similarly, ITC on state or union territory tax is used first for their respective taxes and then for integrated tax only if central tax ITC is unavailable. Central tax ITC cannot be used for state or union territory tax payments, nor can state or union territory tax ITC be used for central tax payments. The government may prescribe further rules on ITC utilization order, but integrated tax ITC must be fully exhausted before utilizing other tax credits. Remaining balances after payments may be refunded per applicable provisions.
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