Section 10
Transfer of input tax credit.
The Union Territory Goods and Services Tax Act, 2017
About this Act
An Act to make a provision for levy and collection of tax on intra-State supply of goods or services or both by the Union territories and for matters connected therewith or incidental thereto.
On utilisation of input tax credit of Union territory tax for payment
of tax dues under the Integrated Goods and Services Tax Act in accordance with the provisions of subsection
(5) of section 49 of the Central Goods and Services Tax Act, as reflected in the valid return
furnished under sub-section (1) of section 39 of the Central Goods and Services Tax Act, the amount
collected as Union territory tax shall stand reduced by an amount equal to such credit so utilised and the
Central Government shall transfer an amount equal to the amount so reduced from the Union territory tax
account to the integrated tax account in such manner and within such time as may be prescribed.