https://www.taxtmi.com/notifications?id=129756 The Rules amend refund procedure for inverted duty structure by substituting rule 89(5) with a formula capping refund at a proportion of Net ITC relative to Adjusted Total Turnover less tax payable, and substitute rule 97 to establish a Consumer Welfare Fund with specified credits, audit oversight, a Standing Committee empowered to regulate applicant registration, inspections, audits, grant recommendations, investments, recovery and guidelines, and to permit specified grants and reimbursements subject to prescribed conditions. en-us Fri, 05 Oct 2018 00:00:00 +0530 Fri, 17 May 2019 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/notifications?id=129756 The Rules amend refund procedure for inverted duty structure by substituting rule 89(5) with a formula capping refund at a proportion of Net ITC relative to Adjusted Total Turnover less tax payable, and substitute rule 97 to establish a Consumer Welfare Fund with specified credits, audit oversight, a Standing Committee empowered to regulate applicant registration, inspections, audits, grant recommendations, investments, recovery and guidelines, and to permit specified grants and reimbursements subject to prescribed conditions. Notifications GST - States Fri, 05 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/notifications?id=129756