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of <h1>Karnataka GST Rules Amended: Key Changes to Input Tax Credit, Asset Valuation, and New Rules for Schedule II Projects.</h1> The Karnataka Pradesh Goods and Services Tax (Third Amendment) Rules, 2019, effective from March 29 and April 1, 2019, introduce amendments to the Karnataka Goods and Services Tax Rules, 2017. Key changes include clarifications on the value of assets, amendments to rules 41 and 42 regarding input tax credit calculations, and specific provisions for projects under Schedule II of the Act. New rules and forms, such as rule 88A for input tax credit utilization and updated assessment and demand forms, are introduced to streamline tax processes. These amendments aim to enhance clarity and compliance within the GST framework in Karnataka.
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