https://www.taxtmi.com/notifications?id=128145 The amendment prescribes that amounts added under section 15(2)(b) are deemed paid for section 16(2) purposes, extends a temporal reference to eighteen months, and mandates inward supplies be received against a tax invoice. It prescribes a formula for refund on account of inverted duty structure-linking turnover of inverted rated supplies, Net ITC and Adjusted Total Turnover-and defines Net ITC and Adjusted Total Turnover. Forms and statements are revised for refund and practitioner records, and enforcement powers include orders for price reduction, refund with eighteen percent interest, fifty percent deposit into the Fund, penalties, and cancellation of registration. en-us Wed, 13 Jun 2018 00:00:00 +0530 Thu, 07 Feb 2019 13:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=128145 The amendment prescribes that amounts added under section 15(2)(b) are deemed paid for section 16(2) purposes, extends a temporal reference to eighteen months, and mandates inward supplies be received against a tax invoice. It prescribes a formula for refund on account of inverted duty structure-linking turnover of inverted rated supplies, Net ITC and Adjusted Total Turnover-and defines Net ITC and Adjusted Total Turnover. Forms and statements are revised for refund and practitioner records, and enforcement powers include orders for price reduction, refund with eighteen percent interest, fifty percent deposit into the Fund, penalties, and cancellation of registration. Notifications GST - States Wed, 13 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=128145