https://www.taxtmi.com/article/detailed?id=9380 The amendment redefines valuation for zero-rated supplies by making the turnover for refund purposes the lesser of export invoice value or 1.5 times the value of like goods domestically supplied by the same or a similarly placed supplier, altering the numerator for proportionate ITC refund calculations while total invoice sales remain the denominator. The change affects exporters using a Letter of Undertaking, creates evidentiary and comparability issues for pure exporters, and does not impact exporters who pay tax and claim refund of tax paid. en-us Mon, 27 Jul 2020 10:41:04 +0530 Mon, 27 Jul 2020 10:41:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9380 The amendment redefines valuation for zero-rated supplies by making the turnover for refund purposes the lesser of export invoice value or 1.5 times the value of like goods domestically supplied by the same or a similarly placed supplier, altering the numerator for proportionate ITC refund calculations while total invoice sales remain the denominator. The change affects exporters using a Letter of Undertaking, creates evidentiary and comparability issues for pure exporters, and does not impact exporters who pay tax and claim refund of tax paid. Articles Goods and Services Tax - GST Mon, 27 Jul 2020 10:41:04 +0530 https://www.taxtmi.com/article/detailed?id=9380