https://www.taxtmi.com/circulars?id=60756 The circular clarifies that input tax credit attributable to Integrated tax must be fully exhausted before any Central tax or State/Union territory tax credit can be utilised; after exhaustion, Integrated tax credit may be applied towards Central and State/UT liabilities in any order and proportion. It explains that this change responds to trade representations about imbalanced credit accumulation, provides an application matrix and illustrative allocations, and advises taxpayers that the common portal currently follows the pre-amendment order until updated, inviting implementation difficulty reports. en-us Thu, 25 Apr 2019 00:00:00 +0530 Fri, 03 May 2019 18:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=60756 The circular clarifies that input tax credit attributable to Integrated tax must be fully exhausted before any Central tax or State/Union territory tax credit can be utilised; after exhaustion, Integrated tax credit may be applied towards Central and State/UT liabilities in any order and proportion. It explains that this change responds to trade representations about imbalanced credit accumulation, provides an application matrix and illustrative allocations, and advises taxpayers that the common portal currently follows the pre-amendment order until updated, inviting implementation difficulty reports. Circulars GST - States Thu, 25 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=60756