TMI BlogClarification in respect of utilization of input tax credit under GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... ion 49 was amended and Section 49A and Section 49B were inserted vide Odisha Goods and Services Tax (Amendment) Act, 2018 [hereinafter referred to as the OGST (Amendment) Act]. The amended provisions came into effect from 1 st February 2019. 2. Various representations have been received from the trade and industry regarding challenges being faced by taxpayers due to bringing into force of section 49A of the Odisha Goods and Services Tax Act, 2017 (hereinafter referred to as the OGST Act). The issue has arisen on account of order of utilization of input tax credit of integrated tax in particular, order, resulting in accumulation of input tax credit for one kind of tax (say State tax) in electronic credit ledger and discharge ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated tax towards the payment of Central tax and State tax, or as the case may be, Union territory tax, in any order subject to the condition that the entire input tax credit on account of Integrated tax is completely exhausted first before the input tax credit on account of Central tax or State / Union territory tax can be 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: Integrated tax (I) (II) - In any order and in any proportion (III) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... put 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: Integ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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