Amendment of Section 49

In Section 49 of the Principal Act,-

1. (a) in sub-section (2), for the word and figures "Section 41", the words, figures and letter "Section 4l or Section 43A" shall be substituted;
2. (b) in sub-section (5).-
   • (i) in clause (c), for the punctuation semi colon ";", the punctuation colon ":" shall be substituted;
   • (ii) after clause (c), the following shall be inserted, namely: " Provided that the input tax credit on account of State tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on account of central tax is not available for payment of integrated tax;"
   • (iii) in clause (d), for the punctuation semi colon ";", the punctuation colon ":" shall be substituted;
   • (iv) after clause (d), the following shall be inserted, namely: " Provided that the input tax credit on account of Union territory tax shall be utilised towards payment of integrated tax only where the balance of the input tax credit on account of central tax is not available for payment of integrated tax;"