Amendment status not verified — confirm the current text below against the official source.
On utilisotion of input tox credit ovoiled under this Act for poyment of iox dues under the lntegroted Goods ond Services Tox Act in occordonce with the provisions of sub-section (5) o{ section 49. os reflected in the volid return furnished under sub-section (l ) of section 39. the omount collected os Stote tox sholl stond reduced by on omount equol to such credit so utilised ond the Stote Government sholltronsfer on omount equol to the omount so reduced from the Stote tox occount to the integroted tox occount in such monner ond within such time os moy be prescribed. Tronsfer of input tox credit. 182 CHAPTER - XI REFUNDS