https://www.taxtmi.com/article/detailed?id=10011 Inverted duty structure arises when tax on inputs exceeds tax on outputs, creating accumulated ITC; refund entitlement for such accumulation is governed by the statutory refund provision and implementing rules that define Net ITC and limit refund computation to tax on inputs. Conflicting High Court views-one striking down exclusion of input services, the other upholding it-were resolved by the highest forum which accepted the rules' textual limitation to inputs while noting anomalies in the refund formula and urging reconsideration by the GST policymaking body. en-us Sat, 18 Sep 2021 11:03:10 +0530 Sat, 18 Sep 2021 11:03:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10011 Inverted duty structure arises when tax on inputs exceeds tax on outputs, creating accumulated ITC; refund entitlement for such accumulation is governed by the statutory refund provision and implementing rules that define Net ITC and limit refund computation to tax on inputs. Conflicting High Court views-one striking down exclusion of input services, the other upholding it-were resolved by the highest forum which accepted the rules' textual limitation to inputs while noting anomalies in the refund formula and urging reconsideration by the GST policymaking body. Articles Goods and Services Tax - GST Sat, 18 Sep 2021 11:03:10 +0530 https://www.taxtmi.com/article/detailed?id=10011