https://www.taxtmi.com/notifications?id=125251 Substitution of rule 89(5) prescribes a refund for inverted duty structure via the formula: Maximum Refund Amount = (Turnover of inverted rated supplies x Net ITC / Adjusted Total Turnover) - tax payable on such supplies, with Net ITC and Adjusted Total Turnover defined. Rule 97 establishes the Consumer Welfare Fund, its sources, auditability, a Standing Committee with specified powers to regulate applicants, grants, investments and reimbursements, and limits on utilisation. Amendments also prescribe capital goods valuation for ITC-03 and insert FORM GSTR-10 and revised DRC-07. en-us Wed, 18 Apr 2018 00:00:00 +0530 Fri, 27 Apr 2018 10:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125251 Substitution of rule 89(5) prescribes a refund for inverted duty structure via the formula: Maximum Refund Amount = (Turnover of inverted rated supplies x Net ITC / Adjusted Total Turnover) - tax payable on such supplies, with Net ITC and Adjusted Total Turnover defined. Rule 97 establishes the Consumer Welfare Fund, its sources, auditability, a Standing Committee with specified powers to regulate applicants, grants, investments and reimbursements, and limits on utilisation. Amendments also prescribe capital goods valuation for ITC-03 and insert FORM GSTR-10 and revised DRC-07. Notifications GST Wed, 18 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125251