Refund of input tax credit: new formula and eligibility rules for zero-rated supplies, with revised quarterly refund filings. Amendments deem UINs issued under the Central Act to be issued under Goa law, restrict retrospective amendment of registration particulars absent a Commissioner's order, prescribe a formula for refund of input tax credit for zero-rated supplies without payment of tax under bond/LUT with defined terms (Refund amount, Net ITC, Turnover of zero-rated goods/services, Adjusted Total turnover, Relevant period), permit refunds where suppliers availed specified notifications, require quarterly FORM GST RFD-10 refund applications with accompanying GSTR-11 statements, and substitute multiple registration and refund forms with enhanced data and documentation requirements.
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Refund of input tax credit: new formula and eligibility rules for zero-rated supplies, with revised quarterly refund filings.
Amendments deem UINs issued under the Central Act to be issued under Goa law, restrict retrospective amendment of registration particulars absent a Commissioner's order, prescribe a formula for refund of input tax credit for zero-rated supplies without payment of tax under bond/LUT with defined terms (Refund amount, Net ITC, Turnover of zero-rated goods/services, Adjusted Total turnover, Relevant period), permit refunds where suppliers availed specified notifications, require quarterly FORM GST RFD-10 refund applications with accompanying GSTR-11 statements, and substitute multiple registration and refund forms with enhanced data and documentation requirements.
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