Input tax credit distribution: amended rules mandate monthly pro rata allocation, separate treatment of eligible and ineligible credits. Amendments require an Input Service Distributor to distribute monthly available input tax credit in the same month and report it in FORM GSTR-6, ensure distributed amounts do not exceed available credit, attribute credit only to recipients to whom the input service is attributable, and, where multiple recipients exist, distribute credit pro rata based on recipients' turnover in the State or Union territory during the relevant period; eligible and ineligible credit and different tax heads must be distributed separately and adjustments via debit/credit notes must be reflected in FORM GSTR-6.
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Input tax credit distribution: amended rules mandate monthly pro rata allocation, separate treatment of eligible and ineligible credits.
Amendments require an Input Service Distributor to distribute monthly available input tax credit in the same month and report it in FORM GSTR-6, ensure distributed amounts do not exceed available credit, attribute credit only to recipients to whom the input service is attributable, and, where multiple recipients exist, distribute credit pro rata based on recipients' turnover in the State or Union territory during the relevant period; eligible and ineligible credit and different tax heads must be distributed separately and adjustments via debit/credit notes must be reflected in FORM GSTR-6.
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