https://www.taxtmi.com/circulars?id=62378 Amendment removes the refund bar prospectively for supplies of specified fabrics and provides that accumulated input tax credit on inputs attributable to inverted duty structure for inward supplies received up to the cut-off shall lapse to the extent unutilised after payment of tax for the cut-off month. Lapsing is limited to credits on inputs, excludes input services and capital goods, and the amount is to be determined using the formula applied for refundable inverted-duty credit, excluding zero-rated supplies. Taxpayers must self-assess and disclose the lapsed amount in their return and retain supporting calculations. en-us Wed, 13 Mar 2019 00:00:00 +0530 Sat, 14 Sep 2019 13:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=62378 Amendment removes the refund bar prospectively for supplies of specified fabrics and provides that accumulated input tax credit on inputs attributable to inverted duty structure for inward supplies received up to the cut-off shall lapse to the extent unutilised after payment of tax for the cut-off month. Lapsing is limited to credits on inputs, excludes input services and capital goods, and the amount is to be determined using the formula applied for refundable inverted-duty credit, excluding zero-rated supplies. Taxpayers must self-assess and disclose the lapsed amount in their return and retain supporting calculations. Circulars GST - States Wed, 13 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/circulars?id=62378