Excel Utility as per new GST ITC utilization rules applicable from 01.02.2019

Excel Utility for GST Input Tax Credit (ITC) utilization as per new Amendment applicable from 01.02.2019

The Order for utilization of ITC has been changed along with introduction of new Sections 49A & 49B under The CGST Act 2017.

Utilization of input tax credit subject to certain conditions

“49A. Notwithstanding anything contained in section 49, the input tax credit on account of central tax, State tax or Union territory tax shall be utilized towards payment of integrated tax, central tax, State tax or Union territory tax, as the case may be, only after the input tax credit available on account of integrated tax has first been utilized fully towards such payment.”