Section 53 - Transfer of input tax credit of CGST ACT, 2017

         53. On utilisation of input tax credit availed under this Act 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, as reflected in the valid return furnished under sub-section (1)
of section 39, the amount collected as central 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 central tax account to the integrated tax account in such manner
and within such time as may be prescribed.

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