9911796707
TMI BlogClarification 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 ..... Clarification in respect of utilization of input tax credit under GST - Reg. Section 49 was amended and Section 49A and Section 49B were inserted vide Haryana Goods and Services Tax (Amendment) Act, 2018 [hereinafter referred to as the HGST (Amendment) Act]. The amended provisions came into effect from 1st February 2019. 2. Various representations have from the trade and industry regarding cha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mentation of the provisions of the law, the Commissioner of State Tax, in exercise of its conferred by section 168 of the HGST Act, hereby clarifies the issues raised as below. 3. The newly inserted Section 49A of the HGST Act provides that the input tax credit of Integrated tax has to utilized completely before input tax credit of Central tax / State tax can utilized for discharge of any tax lia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t tax credit on account of Central tax or State tax can utilized. It is clarified that after the insertion of the said rule. the order of utilization 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 Integrated t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ax 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 0 - 200 0 Total 1000 300 300 100 Option 2: Input tax Credit an account of Discharge of output liability on account of Integrated tax Discharge of output liability on account of Central tax Discharge of output liability on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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