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Manner of distribution of credit by Input Service Distributor

Section 21 - Draft-Bills-Reports - INPUT TAX CREDIT - MODEL GST LAW - Draft The Central / State Goods and Services Tax Act, 2016 - [November 2016] - Section 21 - 21. (1) The Input Service Distributor shall distribute, in such manner as may be prescri .....

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f credit are located in different States. (CGST ACT) (1) The Input Service Distributor shall distribute, in such manner as may be prescribed, the credit of SGST as SGST or IGST, by way of issue of a prescribed document containing, inter alia, the amo .....

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ed, the credit of CGST and IGST as CGST, by way of issue of a prescribed document containing, inter alia, the amount of input tax credit being distributed or being reduced thereafter, where the Distributor and the recipient of credit, being a busines .....

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mount of input tax credit being distributed or being reduced thereafter, where the Distributor and the recipient of credit, being a business vertical, are located in the same State. (SGST Act) (3) The Input Service Distributor may distribute the cred .....

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t of the credit distributed shall not exceed the amount of credit available for distribution; (c) the credit of tax paid on input services attributable to a recipient of credit shall be distributed only to that recipient; (d) the credit of tax paid o .....

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ecipient, during the relevant period, to the aggregate of the turnover of all such recipients to whom such input service is attributable and which are operational in the current year, during the said relevant period; (e) the credit of tax paid on inp .....

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urnover of all recipients and which are operational in the current year, during the said relevant period. Explanation 1. -For the purposes of this section, the relevant period shall be- (a) if the recipients of the credit have turnover in their State .....

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