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TMI BlogConcept of Input Service Distributor in GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... ven though it may be separately registered. The threshold limit of registration is not applicable to ISD. The registration of ISD under the existing regime (i.e. under Service Tax) would not be migrated in GST regime. All the existing ISDs will be required to obtain fresh registration under new regime in case they want to operate as an ISD. Q 3. What are the documents for distribution of credit by ISD? Ans. The distribution of credit would be done through a document especially designed for this purpose. The said document would contain the amount of input tax credit being distributed. Q 4. Can an ISD distribute the input tax credit to all suppliers? Ans. No. The input tax credit of input services shall be distributed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Q 9. What are the provisions for recovery of excess/wrongly distributed credit by ISD? Ans. The excess/wrongly distributed credit can be recovered from the recipients of credit along with interest by initiating action under section 73 or 74. Q 10. Whether CGST and IGST credit can be distributed by ISD as IGST credit to recipients located in different States? Ans. Yes, CGST credit can be distributed as IGST and IGST credit can be distributed as CGST by an ISD for the recipients located in different States. Q 11. Whether SGST / UTGST credit can be distributed as IGST credit by an ISD to recipients located in different States? Ans. Yes, an ISD can distribute SGST /UTGST credit as IGST for the recipients located i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n pro rata basis of turnover in such State. Q 18. Whether the excess credit distributed could be recovered from ISD by the department? Ans. No. Excess credit distributed can be recovered along with interest only from the recipient and not ISD. The provisions of section 73 or 74 would be applicable for the recovery of credit. Q 19. What are the consequences of credit distributed in contravention of the provisions of the Act? Ans. The credit distributed in contravention of provisions of Act could be recovered from the recipient to which it is distributed along with interest. - Manuals - Ready reckoner - Law and practice - Reference Guide - Quick Commentary Tax Management India - taxmanagementindia - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X
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