https://www.taxtmi.com/forum/issue?id=117832 Dispute concerns whether, for an inverted-rate refund under a single GSTIN with trading and manufacturing activities, Net ITC should include input tax credits of the trading activity while Adjusted Total Turnover captures turnover of both activities. The officer excluded trading ITC but retained its turnover; commentators argue Rule 89(5) does not prohibit using trading inputs in the refund calculation and recommend litigation to resolve the technical interpretation. en-us Mon, 28 Feb 2022 15:34:53 +0530 Thu, 23 Jan 2025 15:54:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=117832 Dispute concerns whether, for an inverted-rate refund under a single GSTIN with trading and manufacturing activities, Net ITC should include input tax credits of the trading activity while Adjusted Total Turnover captures turnover of both activities. The officer excluded trading ITC but retained its turnover; commentators argue Rule 89(5) does not prohibit using trading inputs in the refund calculation and recommend litigation to resolve the technical interpretation. Discussion-Forum GST Mon, 28 Feb 2022 15:34:53 +0530 https://www.taxtmi.com/forum/issue?id=117832