Section 53 of CGST Act, 2017 : Section 53: Transfer Of Input Tax Credit

CGST Act, 2017

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Explanation using Example

Imagine a business in Mumbai, which is registered under the Goods and Services Tax (GST) system, has made interstate sales and is liable to pay Integrated Goods and Services Tax (IGST). The business has also accumulated a certain amount of Central Goods and Services Tax (CGST) as input tax credit (ITC) from its purchases. When it comes time to file their monthly GST returns, the business decides to us...

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