Section 10 of UTGST – Transfer of input tax credit as per Union Territory GST Act. Deep analysis for Section 10 of UTGST Bill 2017 – Transfer of input tax credit as per Union Territory GST Act as per UTGST Act 2017. Get Complete Details for UTGST Section 10 and also get detailed analysis of all Sections of UTGST Act 2017. This UTGST Section provide all details for Transfer of input tax credit as per Union Territory GST Act applicable on all Union Territories of India. Find Analysis of UTGST Section 10 of Union Territory goods & Service tax Act 2017. The Main purpose of UTGST bill is to apply a collection of tax on every Intra UT supply of goods and service in the union territories in absence of legislature and has similar properties as that of SGST. Check Section Wise Analysis of UTGST Act 2017, Chapter Wise Analysis of UTGST All Sections. In this article you may find complete details regarding Section 10 of UTGST Act 2017 – Transfer of input tax credit as per Union Territory GST Act. Now Check more details from below…..
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Section 10 of UTGST Act 2017 – Transfer of input tax credit
On utilisation of input tax credit of Union territory tax for Transfer of input tax credit 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.