Section 49B of CGST Act, 2017 – Order of utilisation of input tax credit

The Central Goods and Services Tax Act, 2017

Chapter-X Payment of Tax

Section 49B: Order of utilisation of input tax credit.

¹[49B. Notwithstanding anything contained in this Chapter and subject to the provisions of clause (e) and clause (f) of sub-section (5) of section 49, the Government may, on the recommendations of the Council, prescribe the order and manner of utilisation of the input tax credit on account of integrated tax, central tax, State tax or Union territory tax, as the case may be, towards payment of any such tax.]

References

Amendments:

1. Inserted by Central Goods and Services Tax (Amendment) Act, 2018, w.e.f. 01.02.2019 [vide Notification No. 2/2019–Central Tax dated 29.01.2019].

Circulars:

c1. Utilization of Input Tax Credit (ITC) post insertion of the Rule 88A of the CGST Rules [Circular No. 98/17/2019-GST dated 23.04.2019]