Inverted duty refund formula clarified, and Consumer Welfare Fund procedures and GST forms amended under Goa GST rules. The amendment revises the inverted duty refund provision with a specified formula using Turnover of inverted-rated supplies, Net ITC and Adjusted Total Turnover; establishes a Consumer Welfare Fund with sources, a Standing Committee, defined powers, applicant eligibility and audit oversight; prescribes capital goods valuation reduced by one sixtieth per month for ITC reversal; inserts GSTR-10 Final Return with stock and reversal details; and substitutes FORM GST DRC-07 for order summaries.
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Provisions expressly mentioned in the judgment/order text.
Inverted duty refund formula clarified, and Consumer Welfare Fund procedures and GST forms amended under Goa GST rules.
The amendment revises the inverted duty refund provision with a specified formula using Turnover of inverted-rated supplies, Net ITC and Adjusted Total Turnover; establishes a Consumer Welfare Fund with sources, a Standing Committee, defined powers, applicant eligibility and audit oversight; prescribes capital goods valuation reduced by one sixtieth per month for ITC reversal; inserts GSTR-10 Final Return with stock and reversal details; and substitutes FORM GST DRC-07 for order summaries.
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