TMI BlogProcedure for distribution of input tax credit by Input Service DistributorX X X X Extracts X X X X X X X X Extracts X X X X ..... e 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 VIII of these rules; (b) the Input Service Distributor shall, in accordance with the provisions of clause (d), separately distribute the amount of ineligible input tax credit (ineligible under the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... T) C where, C is the amount of credit to be distributed, t 1 is the turnover , as referred to in section 20, of person R1 during the relevant period, and T is the aggregate of the turnover, during the relevant period, of all recipients to whom the input service is attributable in accordance with the provisions of section 20; (e) the input tax credit on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ith clause (d); (g) the Input Service Distributor shall issue an Input Service Distributor invoice, as prescribed in sub-rule (1) of rule 54, clearly indicating in such invoice that it is issued only for distribution of input tax credit; (h) the Input Service Distributor shall issue an Input Service Distributor credit note, as prescribed in sub-rule (1) of rule 54, for reduction of credit in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ibuted in terms of clause (d), and the amount so apportioned shall be- (i) reduced from the amount to be distributed in the month in which the credit note is included in the return in FORM GSTR-6 ; or (ii) added to the output tax liability of the recipient where the amount so apportioned is in the negative by virtue of the amount of credit under distribution being less than the amount to be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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