Refund entitlement for inverted duty structure clarified, prescribing formula, documentation and adjusted turnover and ITC definitions. Amendments revise valuation, refund, return and form procedures under the Tamil Nadu GST Rules: amounts added under valuation clause are treated as deemed paid for ITC adjustment; the refund formula for inverted duty structure is prescribed with definitions of Net ITC and Adjusted Total Turnover; inward supplies must be supported by tax invoices; fifty percent of compensation cess determinations must be deposited in the Fund; anti profiteering remedies and documentation requirements in specified forms are updated.
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Provisions expressly mentioned in the judgment/order text.
Refund entitlement for inverted duty structure clarified, prescribing formula, documentation and adjusted turnover and ITC definitions.
Amendments revise valuation, refund, return and form procedures under the Tamil Nadu GST Rules: amounts added under valuation clause are treated as deemed paid for ITC adjustment; the refund formula for inverted duty structure is prescribed with definitions of Net ITC and Adjusted Total Turnover; inward supplies must be supported by tax invoices; fifty percent of compensation cess determinations must be deposited in the Fund; anti profiteering remedies and documentation requirements in specified forms are updated.
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