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TMI BlogClarification in respect of utilization of input tax credit under GST.X X X X Extracts X X X X X X X X Extracts X X X X ..... . Various representations have been received from the trade and industry regarding challenges being faced by taxpayers due to bringing into force of section 49A of the Assam Goods and Services Tax Act, 2017 (hereinafter referred to as the Assam GST Act). The issue has arisen on account of order of utilization of input tax credit of integrated tax in a particular order, resulting in accumulation of input tax credit for one kind of tax (say State tax) in electronic credit ledger and discharge of liability for the other kind of tax (say Central tax) through electronic cash ledger in certain scenarios. Accordingly, rule 88A was inserted in the Assam Goods and Services Tax Rules, 2017 (hereinafter referred to as the Assam GST Rules) in exercise ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... unt of Central tax or State / Union territory tax can be utilized. It is clarified that after the insertion of the said rule, the order of utilization of input tax credit will be as per the order (of numerals) given below: Input tax Credit on account of Output liability on account of Integrated tax Output liability on account of Central tax Output liability on account of State tax / Union Territory tax Integrated tax (I) (II) - In any order and in any proportion (III) Input tax Credit on account of Integrated tax to be completely exhausted manda ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x 1000 200 100 0 Input tax Credit on account of Integrated tax has been completely exhausted Central tax 0 100 - 100 State tax / Union territory tax 0 - 200 0 Total 1000 300 300 100 Option 2: Input tax Credit on account ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... functionality available on the common portal. 2. This Circular is clarificatory in nature and not meant for any interpretation of provisions of the Act and rules. 3. Difficulties, if any, in implementation of the above instructions may be brought to the notice of the Commissioner at an early date. 4. This Circular shall be deemed to have been issued on 23rd April, 2019. Sd/- Anurag Goel, IAS., Commissioner of State tax, Assam, Dispur, Guwahati Memo No. CT/GST-15/2017/355-A Dated Dispur the 24th April, 2019. - Circular - Trade Notice - Public Notice - Instructions - Office orders Tax Management India - taxmanagementindia - taxmanagement - taxmanagementi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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