https://www.taxtmi.com/notifications?id=125870 Amendments revise valuation and refund rules, deem certain added values as paid for input credit purposes, extend a temporal threshold to eighteen months, and set a specific formula for refunds of input tax credit accumulated due to inverted duty structure using Turnover of inverted rated supplies, Net ITC and Adjusted Total Turnover. They mandate receipt of inward supplies against tax invoices, require deposit of fifty percent of specified cess into the Fund, strengthen enforcement where benefits are not passed to recipients including price reductions, returns with interest and fund deposits, and update forms and annexures for refund and practitioner declarations. en-us Wed, 13 Jun 2018 00:00:00 +0530 Fri, 13 Jul 2018 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125870 Amendments revise valuation and refund rules, deem certain added values as paid for input credit purposes, extend a temporal threshold to eighteen months, and set a specific formula for refunds of input tax credit accumulated due to inverted duty structure using Turnover of inverted rated supplies, Net ITC and Adjusted Total Turnover. They mandate receipt of inward supplies against tax invoices, require deposit of fifty percent of specified cess into the Fund, strengthen enforcement where benefits are not passed to recipients including price reductions, returns with interest and fund deposits, and update forms and annexures for refund and practitioner declarations. Notifications GST - States Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125870