Section 49A CGST Act 2017 : Utilisation of input tax credit subject to certain conditions

By | August 29, 2018
(Last Updated On: April 29, 2019)

Section 49A CGST Act 2017

[ Section 49A CGST Act 2017 Inserted by The Central Goods and Services Tax (Amendment) Act 2018 w.e.f. 1-2-2019. However As per Circular No 98/18/2019 Dated Dated 23rd April 2019 : GST ITC utilization Clarified ,GST Portal is showing utilization as per Old Rules before section 49A and Section 49B. Till the new order of utilization as per newly inserted Rule 88A of the CGST Rules is implemented on the common portal, taxpayers may continue to utilize their input tax credit as per the functionality available on the common portal. ]

Section 49A CGST Act 2017 explains Utilisation of input tax credit subject to certain conditions.  and is covered in Chapter X – Payment of Tax

[Note : CGST Act 2017 also known as CENTRAL GOODS AND SERVICES TAX ACT, 2017 assented by the President of India on 12-4-2017 -An Act to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the Central Government and the matters connected therewith or incidental thereto. ]

Utilisation of input tax credit subject to certain conditions.

49A. Notwithstanding anything contained in section 49, the input tax credit on account of central tax, State tax or Union territory tax shall be utilised towards payment of integrated tax, central tax, State tax or Union territory tax, as the case may be, only after the input tax credit available on account of integrated tax has first been utilised fully towards such payment.


Notes on Section 49A of CGST Act 2017

Circular No 98/18/2019 Dated 23rd April 2019 Seeks to clarify the manner of utilization of input tax credit post insertion of the rule 88A of the CGST Rules.

Also Refer Rule 88A CGST :ITC Utilization : Commentary

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