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of <h1>Maharashtra Tax Office Clarifies Prospective Application of Refund Amendments Under MGST Act 2017 for Inverted Duty Structure.</h1> The Maharashtra State Tax Office issued a circular clarifying refund-related issues under the MGST Act, 2017, aligning with a prior CBIC circular. The circular addresses the application of amendments to the formula for calculating refunds of unutilized input tax credit due to an inverted duty structure. Amendments made effective from July 5, 2022, apply prospectively to refund applications filed on or after this date. Additionally, restrictions on refunds for certain goods under chapters 15 and 27, effective from July 18, 2022, also apply prospectively. Any difficulties in implementing the circular should be reported to the relevant authorities.
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