Section 53 Kerala GST Ordinance 2017 : Transfer of input tax credit

By | September 24, 2017
(Last Updated On: September 24, 2017)

Section 53 Kerala GST Ordinance 2017

[ Section 53  Kerala GST Ordinance 2017 explains Transfer of input tax credit and is covered in CHAPTER X PAYMENT OF TAX ]

Transfer of input tax credit

53. On utilisation of input tax credit availed under this Ordinance for payment of tax dues under the Integrated Goods and Services Tax Act, 2017 (Central Act 13 of 2017) 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 State tax shall stand reduced by an amount equal to such credit so utilised and the State Government shall transfer an amount equal to the amount so reduced from the State tax account to the integrated tax account in such manner and within such time as may be prescribed.


Kerala GST Ordinance 2017

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