REFUND OF CREDIT LEDGER CLAIM DUE TO INVERTED DUTY STRUCTURE

REFUND OF CREDIT LEDGER CLAIM DUE TO INVERTED DUTY STRUCTURE https://www.taxtmi.com/forum/issue?id=114181 Maximum refund is computed as (turnover of inverted rated supplies x Net ITC / Adjusted Total Turnover) minus tax payable on such inverted rated supplies. Net ITC means input tax credit availed on inputs during the relevant period other than credit availed for which refund is claimed under specified sub-rules; Adjusted Total Turnover has the same meaning assigned in the rule. en-us Wed, 26 Sep 2018 11:56:20 +0530 Thu, 23 Jan 2025 15:55:18 +0530 TaxTMI RSS Generator REFUND OF CREDIT LEDGER CLAIM DUE TO INVERTED DUTY STRUCTURE https://www.taxtmi.com/forum/issue?id=114181 Maximum refund is computed as (turnover of inverted rated supplies x Net ITC / Adjusted Total Turnover) minus tax payable on such inverted rated supplies. Net ITC means input tax credit availed on inputs during the relevant period other than credit availed for which refund is claimed under specified sub-rules; Adjusted Total Turnover has the same meaning assigned in the rule. Discussion-Forum GST Wed, 26 Sep 2018 11:56:20 +0530 https://www.taxtmi.com/forum/issue?id=114181