Section 49B of CGST Act 2017: Order of utilisation of input tax credit (ITC)

Provisions under Section 49B of the Central Goods and Services Tax (CGST) Act, 2017 relating to “Order of utilisation of input tax credit (ITC)”, are as under:

Section 49B of CGST Act 2017: Order of utilisation of input tax credit (CHAPTER X – PAYMENT OF TAX)

[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.]$1

Amendments History:

$1. Section 49B inserted vide CGST (Amendment) Act, 2018.

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The Central Goods and Services Tax (CGST) Act, 2017 was notified by Govt. of India on 12 April, 2017 and CBIC has notified the commencement date for various Sections/ Provisions thereof from time to time. Subsequently, Govt. has notified the Central Goods and Services Tax (CGST) (Amendment) Act, 2018 on 30 Aug. 2018. Further, CBIC has separately notified the commencement date of provisions of various Sections of the CGST (Amendment) Act 2018 vide Notification No. 2/2019 Central Tax dt. 29 Jan. 2019, except for sections where the date of commencement is different from 1 Feb. 2019 and has specifically been mentioned in the CGST Amendment Act, 2018 itself.

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