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Credit notes for returned or rejected processed-fabric supplies...
Credit-note turnover adjustments preserve inverted-duty refunds, while ministerial re-computation does not constitute an impermissible appellate remand.
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Credit notes for returned or rejected processed-fabric supplies are excluded from outward taxable supply turnover when calculating an inverted-duty refund of accumulated input tax credit. The identical input-output supplies clarification is confined to accumulation caused by a rate reduction on the same goods over time; it does not apply where higher-taxed chemicals and dyes are used to process fabrics taxed at a lower rate without an output-rate reduction. Once refund eligibility and computational parameters are determined, consequential re-quantification is ministerial, does not reopen the merits, and does not constitute an appellate remand.
Credit notes for returned or rejected processed-fabric supplies are excluded from outward taxable supply turnover when calculating an inverted-duty refund of accumulated input tax credit. The identical input-output supplies clarification is confined to accumulation caused by a rate reduction on the same goods over time; it does not apply where higher-taxed chemicals and dyes are used to process fabrics taxed at a lower rate without an output-rate reduction. Once refund eligibility and computational parameters are determined, consequential re-quantification is ministerial, does not reopen the merits, and does not constitute an appellate remand.
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