THE CENTRAL GOODS AND SERVICES TAX ACT, 2018
PAYMENT OF TAX
1[Section 49A: Utilisation of input tax credit subject to certain conditions (Relevant Rules 88A) (Relevant Updates)
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.]
1. Inserted Vide: Section 21 of CGST Amendment Act 2018 vide Notification No. 02/2019 - Central Tax (w.e.f. 01.02.2019)