Amendment status not verified — confirm the current text below against the official source.
(l) The InputSavioeDistfilmmrshall distribute thecredit Mnnncrofdistribinion ofsentenxammamaedmandhmgmed ofcreditbylnpfltSerVice ‘mxamdpxqmmbymyofimeof MW documatm the amount ofiqlut in credit beingdisuiudh-chmasmybelxacfibed. (2) mmmmmmgm . mmflnmmuflr— {1) the cedit an be distinct] to the reapienfs of ’- -' qedit wa(ham «mining such details » - asmlybe I(bI) theamumdtheaeditdmhmddiaglnmqmed ; theamonfitofqeditavaihblefordistnbuiion; (c) the creditoftaxpoidoniqmtserviceuttributable to arecipientofaeditshallbedistributedonlyto thatrecipient; a (d) thecredit oftaxpmdonmputservmatm‘butahk tomorethanoneredpientofaeditslallbe distributed amongst such recipients to whom the input service is attributable and such distribution . shallbepro rataon thebasisofthetumovetinaState ' or turnover in a Union territOry of such geapient, during the relevant period, to the aggregate of the turnover ofall such recipients to whom such input service is amibtitab'le'and which are operational in -~ the current year, during the saidrelevant period; I (e) 'thIIe'I‘credit oftax paid on input services attributable \ to' all recipients of ‘credit shall be distributed amongst such recipients and such distribution'Shall be pro rata on the basis of the turnover in a State or turnover in a Union territory of such recipient“ dming the relevant period, to the aggrbgate of the turnover ofall recipients and which are operatic'mal in thecuttent year, during the said releyant period. Explanation:-For the purposes ofthis section,— (a_i ‘ the “relevaat period”shall beI-I (i) if the recipients ofcredit have turnover in their States 01' Union territories in the financial year preceiiihg theyear during which credit"is to be distributefithesm&financ1alyearor ' " ' ~21. 39 (ii) if some or all reupiehts of thecredit do‘not have any nunovei-f‘ili theirSmtes or Unibn tem‘tories in ; v the financial year preceding the yearduring which the credit is to be distributed. thelastguarter for _,I (I Whichdetaflsofsitehtgenoveeofalltheredpients ' ‘ are available, prefiii’usto the month during which ,éreditstobe'dissms (b) the expression “ieeipient oigeredit' means the supplier ofgoods or services or_both havingthe same Permanent ‘ Account Numbeeasthatofthe InputServiceDistributor; 3 (c) - the terin ‘tumowr‘ *ih‘a‘ehttion t6 any‘registered person engaged in the supply oftaxable goods as well as goods ‘ not taxable under this Act, means value of turnover, reduced by-rthe’ amount‘bf any duty orltax levied underent'ryuofljstlofthe‘SeventhSdieduletothe ConsfinmonandalrySIandfloffistnofdaedd Schedule. mmmfim " toms;- m4m-mzo : mum ,. fl , awmefor me recipients ofaedit.’ " ' themes:' credit QSW j ' " shall be recovered from such recipients along with. interest, and 'the provisions ofsection73 or section 74, as the case maybe; shall mutatis mutandis apply for determination of amount to be feqoveted; I lhnerofzeeovuyof aeditd'ltflnmdin '22. (1) 40 ~ CHARTER: Y1 Inssmttsnon IIsS Every supphermalngga‘taxablesuppiy d pods or services oi'both mtheStateshallbehabletobenylued under this Act ifhis aggregate turnover in a Em! year exceeds twentylakh rupees: Provided that where such person snakes taxable supplies of goodsor servicesorboth from anyofthe specialcategotysmhe shall be liable to beregistered 1£hs§3aggregateturnpvet innlingual yearexegedstenlalthmpees. <2 Eyerympphetmaking ktaxable supply ofgoodsor services or bothfmfltheState,shallbehabh to be :egistered under this Act ifhis aggregateturnover in a finaneialyeuexceeds ten lakh rupees. ' (I2) (4) Every person who, on the day immediately preceding a the appointed daysregistered or holds a license under anezdstinglaw, shaHbeliabletoberegisteredundea'this Actwith effect from the appointedday. ‘Whereabusmesscamedonbyataxablepason mg'SteRdunderthisActisuansferreiwheflieton account of succession or otherwise, to another person as a going concern, the transferee or the successor. as the case may be, shall be liable to be registered with effect from the date ofsuch transfer or succession. Notwithstanding anything contained in sub-sectiom (1) and_(3),.in a case of transfer pursuant to sanction of a scheme or an arrangement for amalgamationflor, as ' the case may be. de—merger of two 0: morecompanies pursuant to an order of a High Court. Tribunal or otherwise, the transferee shall be liable to be registered. with effect from the. date on which the Registrar of Companies issues a certificate of incdrporation giving ' effect to such order ofthe High Court. Explanation:—For the purposes of this section,— (i) (ii) the expression aggregate turnbver shall include all 7 supplies made by the taxable person, whether on his own account or made on behalfofall his principals; the supply of goods, after completion ofjob-work, by a registered job worker shall be treated as the supply of ' goods by the principal referred to in section 143, and the value .of such goods shall not be included in the aggregate turnover ofthe'registered job worker. Persons liable for registration. OnlyinSGSTIzwfor specialcategoryStates wiinnthepmviso 41, (iii) areexpression Whetégory States" shall mean the ' 1'»; Sumsasspeafiedinfinhvddusewofdauseflhfamde :ff *‘279Aoftfieconstimr§n ‘7 (l) Thefiifirmngpersqnsshallnothehahfetoregistran Perm-milleh namely:- 1:43; (a) anyperson ' inthebusinessof alpplyinggmdsprservicesorboththatarenot. liablétotaxorsvhollyexerpptfromtaxunderthis Act or under theIntegrated Goods andServices TaxAct; . ' 1:39;”: (h) anagriculturist t6theextentofsupplyof 'f’ ' ‘ ornofcdtivatronofland. (2) The Government may, on the recommendations ofthe Whymdfiammspeafydieategoryofpemm whomaybeexemptedfrunobmmmgreglstrationunder thisAct. 311K3251’ 31': ' MWin sub—section (1) of. Compulsoryregistration “CHOP32-4119Mowhgmonesotpmlndemhng inceminensu. . taxablesupphesshallberequrredtoberegrsteredunderthis V Acn- . (i) persommlunganyinterStatemahlesupply- (it) casualtuabiepersonw % i (iii) personswhoaterequiredtopaytaxunfierreversecharge, ’ (iv) person who are requn‘edtopay taxundersubsection (5) ~ ofscctionfi: a , x (v) non’mident taxablepersons; ' » . ' (vi) personswhoarerequrredtodeducttaxundersecuonSI whetherornotseparatelyregisteredunderthrsAct; , ,:. (vii)personswhosupplygoodsorservrcesorhothonhehalfof , othertaxahlepersonswhetherasanagentorotherwrse, (viii) input servicem Whether or not separately WunderthisAct: - (he) penohswhosupplygoodsorservrcesorhath other than supplies specified under sub-sectic’m (S) of section 9, through such electronic commerce operatorwho is; reqhiredtocollecttaxatsource under section 52 ' Wk) everyelectronrccommerceoperator, , (xi) everyperson supplyingonline information anddatahase accessorservicesfmmaplnceoutsidelndtatoa personmotliuthmaregrsteredpusomand _,» (nflsuchotherpepqnorclmofpersonsasmeybenonfied :. by the 1,} , thermommendationsofthe Council “ " ‘ 43 ofl961 4.2