alleryStart learning →Central tax credit can be used to pay which two taxes in order?
AState tax, then integrated tax
BIntegrated tax, then State tax
CIntegrated tax only, never central tax
DCentral tax, then integrated tax
Answer & Solution
Correct answer: D. Central tax, then integrated tax
Section 49(5)(b) uses central tax credit first for central tax and the remaining for integrated tax.
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Related questions
An Input Service Distributor is best described as what?Which return must be filed before claiming ITC under Section 16(2)(d)?ITC on a supply requires that the tax charged has been actually what?A bank has eligible ITC of Rs 80,000 in a month and picks the 50 per cent option. What creCommon input ITC Rs 90,000; two-thirds relates to taxable supplies, rest exempt. Credit alInputs carry total ITC of Rs 60,000, and 25 per cent of their use is for non-business purpInvoice Rs 1,00,000 plus 18% GST unpaid beyond 180 days. ITC added back, ignoring interestInter-State sale Rs 5,00,000, inputs Rs 3,00,000, IGST 12% on both. Net IGST?