https://www.taxtmi.com/notifications?id=125718 The amendment prescribes a formula for refund under an inverted duty structure, defining Net ITC and Adjusted Total Turnover for computing the maximum refund. It establishes a Consumer Welfare Fund with specified receipts credited, auditability by the Comptroller and Auditor General, and administration by a government constituted Standing Committee vested with powers to evaluate applications, require registration and inspections, audit accounts, recover misused grants, and recommend grants, investments and reimbursements. It also revises valuation for capital goods and inserts/formalises final return and order summary forms including GSTR 10, GST ITC 03 and GST DRC 07. en-us Wed, 18 Apr 2018 00:00:00 +0530 Fri, 13 Jul 2018 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125718 The amendment prescribes a formula for refund under an inverted duty structure, defining Net ITC and Adjusted Total Turnover for computing the maximum refund. It establishes a Consumer Welfare Fund with specified receipts credited, auditability by the Comptroller and Auditor General, and administration by a government constituted Standing Committee vested with powers to evaluate applications, require registration and inspections, audit accounts, recover misused grants, and recommend grants, investments and reimbursements. It also revises valuation for capital goods and inserts/formalises final return and order summary forms including GSTR 10, GST ITC 03 and GST DRC 07. Notifications GST - States Wed, 18 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125718