Provisions under Section 10 of the Union Territory Goods and Services Tax (UTGST) Act, 2017 relating to “Transfer of Input Tax Credit (ITC)”, are as under:
Section 10 of UTGST Act 2017: Transfer of Input Tax Credit (CHAPTER IV – PAYMENT OF TAX)
On utilisation of input tax credit of Union territory tax for payment of tax dues under the Integrated Goods and Services Tax Act in accordance with the provisions of sub-section (5) of section 49 of the Central Goods and Services Tax Act, as reflected in the valid return furnished under sub-section (1) of section 39 of the Central Goods and Services Tax Act, the amount collected as Union territory tax shall stand reduced by an amount equal to such credit so utilised and the Central Government shall transfer an amount equal to the amount so reduced from the Union territory tax account to the integrated tax account in such manner and within such time as may be prescribed.
1. CBEC notifies 01/07/2017 as the Commencement date for Section 10 of the UTGST Act 2017, vide Notification 3/2017 UT Tax dt. 28/06/2017.
Note: The UTGST Act, 2017 has been notified vide GOI Notification dt. 12/04/2017, which has subsequently been amended through UTGST (Amendment) Act, 2018, Finance Act, 2019, Finance Act, 2020, Finance Act, 2021, including various Notifications issued by the Govt./ CBIC from time to time, relating to the commencement dates of various Sections/ Provisions in the respective UTGST/ Amendment Acts, wherever required. Information on this page is a Section-wise compilation of Amendments made by all such Notifications, with best possible efforts for accuracy. In any case, E&OE. For official/ updated information, please visit CBIC website.
|CBIC Updates (GST)|
|GST Circulars, Notifications, Press Releases, Orders, etc. issued by the Central Board of Indirect Taxes & Customs (CBIC) in different years, along with Section-wise/ Rule-wise Text of GST Acts/ Rules:|
|CGST: CGST Act/ Definitions, CGST Rules|
|IGST: IGST Act/ Definitions, IGST Rules|
|UTGST: UTGST Act/ Definitions, UTGST Rules|
|CBIC Circulars (CGST/ IGST/ UTGST): 2021, 2020, 2019, 2018, 2017|
|CBIC Central Tax (CGST) Notifications: 2021, 2020, 2019, 2018, 2017|
|CBIC Central Tax Rate (CGST Rate) Notifications: 2020, 2019, 2018, 2017|
|CBIC Integrated Tax (IGST) Notifications: 2020, 2019, 2018, 2017|
|CBIC Integrated Tax Rate (IGST Rate) Notifications: 2020, 2019, 2018, 2017|
|CBIC UT Tax (UTGST) Notifications: 2020, 2019, 2018, 2017|
|CBIC UT Tax Rate (UTGST Rate) Notifications: 2020, 2019, 2018, 2017|
|CBIC Compensation Cess Notifications: 2020, 2019, 2018, 2017|
|CBIC Compensation Cess Rate Notifications: 2020, 2019, 2018, 2017|
|CBIC Orders (CGST/ IGST/ UTGST): 2020, 2019, 2018, 2017|
|CBIC Press Releases: 2020, 2019, 2018, 2017|
|Note: For Official/ updated copy, please visit the CBIC website.|