GST
The Hon’ble Calcutta High Court in the case of M/s. Cosyn Limited v. Assistant Commissioner of State Tax [M.A.T. NO. 2411 OF 2023 dated April 30, 2024] held that where the Assessee had availed IGST credit and subsequently utilized the said IGST credit for tax payment of SGST, the amount collected as IGST Tax shall stand reduced by an amount equal to the credit so utilized and shall be apportioned to the appropriate State Government and the Central Government shall transfer the amount so apportioned to the account of the appropriate State Government in terms of Section 18 of the Central Goods and Services Tax Act, 2017 (“the CGST Act”). (“the CGST Act”).