https://www.taxtmi.com/notifications?id=125973 Amendments revise valuation and refund rules by deeming certain value additions paid for input tax credit purposes, extending a limitation period, and prescribing a formula for refunds on account of inverted duty structure that defines Net ITC and Adjusted Total Turnover. They strengthen enforcement by empowering authorities to order price reductions, repayment with interest, penalties and registration cancellation, and require deposit of fifty percent of certain determined amounts into the compensation fund. Procedural changes amend return and refund forms and add practitioner eligibility and declaration requirements. en-us Mon, 25 Jun 2018 00:00:00 +0530 Mon, 30 Jul 2018 16:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=125973 Amendments revise valuation and refund rules by deeming certain value additions paid for input tax credit purposes, extending a limitation period, and prescribing a formula for refunds on account of inverted duty structure that defines Net ITC and Adjusted Total Turnover. They strengthen enforcement by empowering authorities to order price reductions, repayment with interest, penalties and registration cancellation, and require deposit of fifty percent of certain determined amounts into the compensation fund. Procedural changes amend return and refund forms and add practitioner eligibility and declaration requirements. Notifications GST - States Mon, 25 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=125973