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