https://www.taxtmi.com/article/detailed?id=10498 The 47th GST Council recommended comprehensive GST rate revisions and removal of multiple exemptions to simplify rates, along with clarifications on concessional treatment for specified goods and services. Procedural amendments include a revised formula for refund of unutilized input tax credit in inverted duty cases, transmission of pending IGST refund claims to jurisdictional authorities, a new form for re crediting erroneously refunded amounts, clarifications on export and duty free shop refunds, and measures to clarify interest calculation and transfer of cash ledger balances to improve liquidity. en-us Sat, 02 Jul 2022 09:22:00 +0530 Sat, 02 Jul 2022 09:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10498 The 47th GST Council recommended comprehensive GST rate revisions and removal of multiple exemptions to simplify rates, along with clarifications on concessional treatment for specified goods and services. Procedural amendments include a revised formula for refund of unutilized input tax credit in inverted duty cases, transmission of pending IGST refund claims to jurisdictional authorities, a new form for re crediting erroneously refunded amounts, clarifications on export and duty free shop refunds, and measures to clarify interest calculation and transfer of cash ledger balances to improve liquidity. Articles Goods and Services Tax - GST Sat, 02 Jul 2022 09:22:00 +0530 https://www.taxtmi.com/article/detailed?id=10498