Section 53 of GST Act: Transfer of input tax credit

Amended and updated notes on section 53 of CGST Act, 2017. Detail discussion on provisions and rules related to transfer of input tax credit.

Amended and updated notes on section 53 of CGST Act, 2017. Detail discussion on provisions and rules related to transfer of input tax credit.

Chapter X (Sections 4953A) of the Central Goods and Services Tax Act, 2017 deals with the provisions related to payment of tax. Section 53 of CGST 2017 provides for transfer of input tax credit.

Recently, we have discussed in detail section 52 (Collection of tax at source) of CGST Act 2017. Today, we learn the provisions of section 53 of Central GST Act 2017.

Section 53 of the Central Goods and Services Tax Act, 2017 has been notified by the Ministry of Finance vide Notification No. 9/2017-Central Tax, G.S.R. 658(E), dated 28.06.2017. This notification was come into force from 1st July, 2017 i.e. the commencement date of section 53 is 1-7-2017.

Name of ActThe Central Goods and Services Tax Act 2017
Enacted byParliament of India
Administered byCentral Board of Indirect Taxes & Customs
Governing bodyGST Council
Number of Chapters21
Number of Sections174
You are reading:
Chapter No.X
Chapter NamePayment of Tax
Section No.53
Section NameTransfer of input tax credit
Updated 2024 EditionGST Law Book PDF

Section 53 of Central GST – Transfer of input tax credit1

Section 53 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017-Central Tax, G.S.R. 658(E), dated 28.06.2017.

On utilisation of input tax credit availed under this Act for payment of tax dues under the Integrated Goods and Services Tax Act in accordance with the provisions of sub-section (5) of section 49, as reflected in the valid return furnished under sub-section (1) of section 39, the amount collected as central 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 central tax account to the integrated tax account in such manner and within such time as may be prescribed.

  1. Section 53 of CGST Act 2017 shall come into force on 01.07.2017 vide Notification No. 9/2017-Central Tax, G.S.R. 658(E), dated 28.06.2017. ↩︎

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