Consumer Welfare Fund establishes governance, grant and investment powers for consumer protection and legal expense reimbursement. Amendment prescribes an inverted duty structure refund formula allocating Net ITC to inverted rated turnover less tax payable; establishes a Consumer Welfare Fund with rules on crediting, audit, a government constituted Standing Committee, its composition, powers to register, inspect, audit, recommend grants and investments, and conditions for applicant eligibility; and updates forms-capital goods valuation in FORM GST ITC-03, insertion of FORM GSTR-10 for final return on cancellation, and substitution of FORM GST DRC-07 as a summary of orders and demands.
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Consumer Welfare Fund establishes governance, grant and investment powers for consumer protection and legal expense reimbursement.
Amendment prescribes an inverted duty structure refund formula allocating Net ITC to inverted rated turnover less tax payable; establishes a Consumer Welfare Fund with rules on crediting, audit, a government constituted Standing Committee, its composition, powers to register, inspect, audit, recommend grants and investments, and conditions for applicant eligibility; and updates forms-capital goods valuation in FORM GST ITC-03, insertion of FORM GSTR-10 for final return on cancellation, and substitution of FORM GST DRC-07 as a summary of orders and demands.
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