Amended and updated notes on section 49B of CGST Act, 2017. Detail discussion on provisions and rules related to Order of utilisation of input tax credit.
Chapter X (Sections 49–53A) of the Central Goods and Services Tax Act, 2017 deals with the provisions related to payment of tax. Section 49B of CGST 2017 provides for order of utilisation of input tax credit.
Recently, we have discussed in detail section 49A (Utilisation of input tax credit subject to certain conditions) of CGST Act 2017. Today, we learn the provisions of section 49B of Central GST Act 2017 as inserted w.e.f. 01st February, 2019 by section 21 of the Central Goods and Services Tax (Amendment) Act, 2018 (No. 31 of 2018).
| Name of Act | The Central Goods and Services Tax Act 2017 |
|---|---|
| Enacted by | Parliament of India |
| Administered by | Central Board of Indirect Taxes & Customs |
| Governing body | GST Council |
| Number of Chapters | 21 |
| Number of Sections | 174 |
| You are reading: | |
| Chapter No. | X |
| Chapter Name | Payment of Tax |
| Section No. | 49B |
| Section Name | Order of utilisation of input tax credit |
| Updated 2024 Edition | GST Law Book PDF |
Relevant Rules and Forms for GST Section 49B:
- Rule 88A: Order of utilization of input tax credit
Section 49B of Central GST – Order of utilisation of input tax credit1
Section 49B of CGST Act 2017 was inserted by section 21 of the Central Goods and Services Tax (Amendment) Act, 2018 (No. 31 of 2018).
Notwithstanding anything contained in this Chapter and subject to the provisions of clause (e) and clause (f) of sub-section (5) of section 49, the Government may, on the recommendations of the Council, prescribe the order and manner of utilisation of the input tax credit on account of integrated tax, central tax, State tax or Union territory tax, as the case may be, towards payment of any such tax.
- Section 49B of CGST Act 2017 was inserted by section 21 of the Central Goods and Services Tax (Amendment) Act, 2018 (No. 31 of 2018). ↩︎