https://www.taxtmi.com/notifications?id=126004 The amendment revises valuation and compliance rules, extends a time limit from one year to eighteen months, and makes many changes effective from 1 July, 2017. It prescribes a formula for refunds of input tax credit due to inverted duty structure using turnover of inverted rated supplies, Net ITC and Adjusted Total Turnover, and substitutes statements in refund forms and GSTR-4. It also mandates invoice-backed inward supplies for specified conditions, requires deposit of fifty per cent of certain cess into the Fund, empowers the Authority to remedy failures to pass on benefits, and amends practitioner eligibility and declarations in FORM GST PCT-01. en-us Mon, 02 Jul 2018 00:00:00 +0530 Tue, 31 Jul 2018 12:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=126004 The amendment revises valuation and compliance rules, extends a time limit from one year to eighteen months, and makes many changes effective from 1 July, 2017. It prescribes a formula for refunds of input tax credit due to inverted duty structure using turnover of inverted rated supplies, Net ITC and Adjusted Total Turnover, and substitutes statements in refund forms and GSTR-4. It also mandates invoice-backed inward supplies for specified conditions, requires deposit of fifty per cent of certain cess into the Fund, empowers the Authority to remedy failures to pass on benefits, and amends practitioner eligibility and declarations in FORM GST PCT-01. Notifications GST - States Mon, 02 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=126004