https://www.taxtmi.com/forum/issue?id=114584 The Maximum Refund Amount for inverted duty structure is computed by multiplying the turnover of inverted-rated supplies by the ratio of Net ITC to Adjusted Total Turnover, and then subtracting the tax payable on those inverted-rated supplies. Net ITC excludes credits already claimed under other refund provisions. Adjusted Total Turnover is the taxable turnover in the State or UT adjusted by excluding services turnover, exempt supplies, and supplies for which separate refunds are claimed. en-us Tue, 05 Feb 2019 15:31:58 +0530 Thu, 23 Jan 2025 15:55:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114584 The Maximum Refund Amount for inverted duty structure is computed by multiplying the turnover of inverted-rated supplies by the ratio of Net ITC to Adjusted Total Turnover, and then subtracting the tax payable on those inverted-rated supplies. Net ITC excludes credits already claimed under other refund provisions. Adjusted Total Turnover is the taxable turnover in the State or UT adjusted by excluding services turnover, exempt supplies, and supplies for which separate refunds are claimed. Discussion-Forum GST Tue, 05 Feb 2019 15:31:58 +0530 https://www.taxtmi.com/forum/issue?id=114584