AI Drafter - (New and Powerful) 
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter. 
TaxTMI 
TaxTMI 
Clarification in respect of utilization of input tax credit under GST
X X X X Extracts X X X X
X X X X Extracts X X X X
.... To, Special Commissioner Additional Commissioners/ Joint Commissioners/Deputy Commissioners/ Assistant Commissioner/State Tax Officers/ State Tax, Chhattisgarh (All) ................................................. Subject: Clarification in respect of utilization of input tax credit under GST - Reg. Section 49 was amended and Section 4....
X X X X Extracts X X X X
X X X X Extracts X X X X
....GST Act provides that the input tax credit or Integrated tax has to be utilized completely before input tax credit or State tax can be utilized for discharge of any tax liability. Further. as per the provisions of section 49 of the CGGST Act. credit of Integrated tax has to be utilized first for payment of Integrated tax, then Central tax and then State tax in that order mandatorily. -This led to ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....zation of input tax credit will be as per the order (of numerals) given below: Input tax Credit on account of Output liability on account of Integrated tax Output liability on account of Central tax Output liability on account of State tax / Union Territory tax Integrated tax (I) (II) - In any order and in any proportion (III) Input tax Credit on account of Integrated tax t....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... Balance of Input tax Credit Integrated tax 1000 200 100 0 Input tax Credit on account of Integrated tax has been completely exhausted Central tax 0 100 - 100 State tax Union territory tax 0 - 200 0 Total 1000 300 300 100 Option 2: Input tax Credit on account of Discharge of output liability on account of Integrat....