Consumer Welfare Fund rules expand governance and powers for grants, audits, eligibility, and fund utilisation procedures. The amendment prescribes a formula for refunds on inverted duty structure with definitions of Net ITC and Adjusted Total Turnover; establishes a Consumer Welfare Fund with audit and Standing Committee governance, procedural powers, applicant eligibility and grant/investment rules; mandates capital goods valuation in ITC-03 by reducing invoice value by one-sixtieth per month; inserts FORM GSTR-10 for final return on cancellation; and substitutes FORM GST DRC-07 for standardized order summaries.
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Provisions expressly mentioned in the judgment/order text.
Consumer Welfare Fund rules expand governance and powers for grants, audits, eligibility, and fund utilisation procedures.
The amendment prescribes a formula for refunds on inverted duty structure with definitions of Net ITC and Adjusted Total Turnover; establishes a Consumer Welfare Fund with audit and Standing Committee governance, procedural powers, applicant eligibility and grant/investment rules; mandates capital goods valuation in ITC-03 by reducing invoice value by one-sixtieth per month; inserts FORM GSTR-10 for final return on cancellation; and substitutes FORM GST DRC-07 for standardized order summaries.
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