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

Provisions under Section 49B of the CGST Act 2017 relating to “Order of utilisation of input tax credit (ITC)”:

Section 49B: Order of utilisation of input tax credit (CHAPTER X: PAYMENT OF TAX) [*1]

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.

Notes (History of Amendments in Bare Text):

1. CGST Section 49B inserted vide section 21 of the CGST (Amendment) Act, 2018, followed with Notification 2/2019 on commencement date of 01/02/2019.