https://www.taxtmi.com/notifications?id=125317 The amendment prescribes a formula for refund of input tax credit on inverted duty structure-linking maximum refund to turnover of inverted-rated supplies, Net ITC (excluding credits already claimed under specified sub-rules) and Adjusted Total Turnover, less tax payable on such supplies. It establishes a detailed Consumer Welfare Fund regime: sources of credit, Comptroller and Auditor General audit, a Standing Committee with defined composition, powers to vet applicants, audit accounts, recover misused grants, and recommend grants or investments; and inserts/formalises obligations and forms including ITC valuation, FORM GSTR-10 (Final Return) and FORM GST DRC-07 (order summary). en-us Mon, 23 Apr 2018 00:00:00 +0530 Sat, 28 Apr 2018 12:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125317 The amendment prescribes a formula for refund of input tax credit on inverted duty structure-linking maximum refund to turnover of inverted-rated supplies, Net ITC (excluding credits already claimed under specified sub-rules) and Adjusted Total Turnover, less tax payable on such supplies. It establishes a detailed Consumer Welfare Fund regime: sources of credit, Comptroller and Auditor General audit, a Standing Committee with defined composition, powers to vet applicants, audit accounts, recover misused grants, and recommend grants or investments; and inserts/formalises obligations and forms including ITC valuation, FORM GSTR-10 (Final Return) and FORM GST DRC-07 (order summary). Notifications GST - States Mon, 23 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125317