Amendment status not verified — confirm the current text below against the official source.
Insertion of section 49A and section49B.- After section 49 of the principal Act, the following sections shall be inserted, namely:–– “49A. Utilisation of input tax credit subject to certain conditions.- Notwithstanding anything contained in section 49, the input tax credit on account of State tax shall be utilised towards payment of integrated tax or State 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.