https://www.taxtmi.com/article/detailed?id=7975 The amended rules prescribe a formula for refunds under an inverted duty structure that limits maximum refund to the share of Net ITC attributable to inverted-rate supplies after deducting tax payable on those supplies, with Net ITC and Adjusted Total Turnover defined to exclude amounts and turnover subject to specified prior refund claims and exempt supplies (other than zero-rated). en-us Mon, 23 Apr 2018 05:48:21 +0530 Mon, 23 Apr 2018 05:48:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7975 The amended rules prescribe a formula for refunds under an inverted duty structure that limits maximum refund to the share of Net ITC attributable to inverted-rate supplies after deducting tax payable on those supplies, with Net ITC and Adjusted Total Turnover defined to exclude amounts and turnover subject to specified prior refund claims and exempt supplies (other than zero-rated). Articles Goods and Services Tax - GST Mon, 23 Apr 2018 05:48:21 +0530 https://www.taxtmi.com/article/detailed?id=7975