https://www.taxtmi.com/notifications?id=125512 The rules prescribe that the value of supplies added under valuation provisions is deemed paid for input tax credit purposes; extend a prescribed time limit to eighteen months; and set out a formula for refunds on account of inverted duty structure where 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, and require inward supplies to be received against a tax invoice for relevant claims. en-us Wed, 13 Jun 2018 00:00:00 +0530 Thu, 14 Jun 2018 10:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125512 The rules prescribe that the value of supplies added under valuation provisions is deemed paid for input tax credit purposes; extend a prescribed time limit to eighteen months; and set out a formula for refunds on account of inverted duty structure where 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, and require inward supplies to be received against a tax invoice for relevant claims. Notifications GST Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125512