The Central Goods and Services Tax Act, 2017
2[49A. Utilisation of input tax credit subject to certain conditions.-
Notwithstanding anything contained in section 49, the input tax credit on account of central tax, State tax or Union territory tax shall be utilised towards payment of integrated tax, central tax, State tax or Union territory tax, as the case may be, only after the input tax credit available on account of integrated tax has first been utilised fully towards such payment.
2. The Proviso ins. by Act 31 of 2018, s. 20 (w.e.f. 1-2-2019).
49B. Order of utilisation of input tax credit.-
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.]
2. Ins. by Act 31 of 2018, s. 21 (w.e.f. 1-2-2019).