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Procedure for distribution of input tax credit by Input Service Distributor

Rule 4 - Final Rules - Input Tax Credit - Goods and Services Tax - Rule 4 - 4. (1) An Input Service Distributor shall distribute input tax credit in the manner and subject to the conditions specified below- (a) the input tax credit available for distribution in a month shall be distributed in the same month and the details thereof shall be furnished in FORM GSTR-6 in accordance with the provisions of Chapter - (Return Rules); (b) the Input Service Distributor sh .....

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ributed in accordance with the provisions of clause (d) and (e) of sub-section (2) of section 20 to one of the recipients R1 , whether registered or not, from amongst the total of all the recipients to whom input tax credit is attributable, including the recipient(s) who are engaged in making exempt supply, or are otherwise not registered for any reason, shall be the amount, C1 , to be calculated by applying the following formula:- C1 = (t1÷T) × C where,

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the input tax credit on account of central tax and State tax or Union territory tax shall, (i) in respect of a recipient located in the same State or Union territory in which the Input Service Distributor is located, be distributed as input tax credit of central tax and State tax or Union territory tax respectively; (ii) in respect of a recipient located in a State or Union territory other than that of the Input Service Distributor, be distributed as integrated tax and the .....

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e an ISD credit note, as prescribed in subrule (1) of rule Invoice-7, for reduction of credit in case the input tax credit already distributed gets reduced for any reason. (i) Any additional amount of input tax credit on account of issuance of a debit note to an Input Service Distributor by the supplier shall be distributed in the manner and subject to the conditions specified in clauses (a) to (f) and the amount attributable to any recipient shall be calculated in the manner provided .....

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