Section 10 of UTGST Act 2017: Transfer of Input Tax Credit (ITC)

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.

Amendments History:

1. CBEC notifies 1st July 2017 as the Commencement date for Section 10 of the UTGST Act 2017, vide Notification 3/2017 UT Tax.

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Govt. has notified the Union Territory Goods and Services Tax (UTGST) Act, 2017 on 12 April, 2017 followed with Union Territory Goods and Services Tax (UTGST) (Amendment) Act, 2018 on 30 Aug. 2018. CBEC/ CBIC has subsequently issued various Notifications on commencement date of various Sections/ Provisions of the UTGST/ Amendment Acts from time to time, except where specifically mentioned in the respective UTGST/ Amendment Acts.

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