Transfer of Input Tax Credit SECTION 10 UTGST ACT 2017
Transfer Input Tax, On utilization of input tax credit of Union territory tax for payment of tax dues under the Integrated Goods and Services Tax Act
Transfer Input Tax, Transfer of Input Tax Credit
On utilization of input tax credit of Union territory tax for payment of tax dues under the Integrated Goods and Services Tax Act in accordance with the provisions of sub-section (5) of section 49 of the Central Goods and Services Tax Act, as reflected in the valid return furnished under sub-section (1) of section 39 of the Central Goods and Services Tax Act, the amount collected as Union territory tax shall stand reduced by an amount equal to such credit so utilized and the Central Government shall transfer an amount equal to the amount so reduced from the Union territory tax account to the integrated tax account in such manner and within such time as may be prescribed.
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