9911796707
TMI BlogManner of distribution of credit by Input Service DistributorX X X X Extracts X X X X X X X X Extracts X X X X ..... ax under sub-section (3) or sub-section (4) of section 9, for or on behalf of distinct persons referred to in section 25, shall be required to be registered as Input Service Distributor under clause (viii) of section 24 and shall distribute the input tax credit in respect of such invoices. (2) The Input Service Distributor shall distribute the credit of central tax or integrated tax charged on in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... FINANCE ACT, 2024 dated 15-02-2024 w.e.f. 01-04-2025 before it was read as, "Manner of distribution of credit by Input Service Distributor. 20. (1) The Input Service Distributor shall distribute the credit of central tax as central tax or integrated tax and integrated tax as integrated tax or central tax, by way of issue of a document containing the amount of input tax credit being distrib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nion territory of such recipient, during the relevant period, to the aggregate of the turnover of all such recipients to whom such input service is attributable and which are operational in the current year, during the said relevant period; (e) the credit of tax paid on input services attributable to all recipients of credit shall be distributed amongst such recipients and such distribution shal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of all the recipients are available, previous to the month during which credit is to be distributed; (b) the expression "recipient of credit" means the supplier of goods or services or both having the same Permanent Account Number as that of the Input Service Distributor; (c) the term "turnover", in relation to any registered person engaged in the supply of taxable goods as well as g ..... X X X X Extracts X X X X X X X X Extracts X X X X
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