Consumer Welfare Fund rules expand governance and grant, investment, audit and recovery powers for consumer protection. The amendment prescribes a formula for refunds under an inverted duty structure defining Net ITC and Adjusted Total Turnover, establishes a Consumer Welfare Fund with audit and Standing Committee governance, enumerates committee powers and meeting procedures, revises capital goods valuation in FORM GST ITC-03 to a monthly 1/60th reduction, inserts FORM GSTR-10 for final return on cancellation with stock and tax reconciliation, and substitutes FORM GST DRC-07 for standardized summary of orders.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Consumer Welfare Fund rules expand governance and grant, investment, audit and recovery powers for consumer protection.
The amendment prescribes a formula for refunds under an inverted duty structure defining Net ITC and Adjusted Total Turnover, establishes a Consumer Welfare Fund with audit and Standing Committee governance, enumerates committee powers and meeting procedures, revises capital goods valuation in FORM GST ITC-03 to a monthly 1/60th reduction, inserts FORM GSTR-10 for final return on cancellation with stock and tax reconciliation, and substitutes FORM GST DRC-07 for standardized summary of orders.
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