https://www.taxtmi.com/notifications?id=125272 The amendment replaces rule 89(5) with a formula for refunds in cases of inverted duty structure, defining Net ITC and Adjusted Total Turnover. It substitutes rule 97 to establish a Consumer Welfare Fund with prescribed deposits, a constituted Standing Committee, its powers, procedures, applicant eligibility and grant conditions, auditability and recovery mechanisms. It amends FORM GST ITC-03 to prescribe capital goods depreciation at 1/60th monthly, inserts FORM GSTR-10 specifying final-return disclosure and certification of stock and capital goods for ITC reversal, and substitutes FORM GST DRC-07 to standardize summary-of-order reporting. en-us Wed, 18 Apr 2018 00:00:00 +0530 Mon, 23 Apr 2018 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125272 The amendment replaces rule 89(5) with a formula for refunds in cases of inverted duty structure, defining Net ITC and Adjusted Total Turnover. It substitutes rule 97 to establish a Consumer Welfare Fund with prescribed deposits, a constituted Standing Committee, its powers, procedures, applicant eligibility and grant conditions, auditability and recovery mechanisms. It amends FORM GST ITC-03 to prescribe capital goods depreciation at 1/60th monthly, inserts FORM GSTR-10 specifying final-return disclosure and certification of stock and capital goods for ITC reversal, and substitutes FORM GST DRC-07 to standardize summary-of-order reporting. Notifications GST - States Wed, 18 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125272