Section 21 - Insertion of new sections 49A and 49B-Utilisation of input tax credit subject to certain conditions-Order of utilisation of input tax credit. - Central Goods and Services Tax (Amendment) Act, 2018

Insertion of new sections 49A and 49B 21 . After section 49 of the principal Act , the following sections shall be inserted, namely: 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. Order of utilisation of input tax credit. 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. .