https://www.taxtmi.com/article/detailed?id=10572 The Council recommended GST rate rationalization effective from 18th July, 2022, altering rates for specified goods and services, restricting refunds of accumulated ITC on certain flowing goods, and withdrawing or narrowing multiple exemptions. It directed procedural reforms including revised refund formulas for inverted duty structure, transmission and processing of suspended IGST refund claims, re-credit of erroneously sanctioned refunds, conditional relaxation of e-commerce supplier registration, options for GTA tax regimes, extensions and waivers for specified filings, and issuance of clarificatory circulars to reduce litigation. en-us Tue, 02 Aug 2022 09:47:59 +0530 Tue, 02 Aug 2022 09:47:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10572 The Council recommended GST rate rationalization effective from 18th July, 2022, altering rates for specified goods and services, restricting refunds of accumulated ITC on certain flowing goods, and withdrawing or narrowing multiple exemptions. It directed procedural reforms including revised refund formulas for inverted duty structure, transmission and processing of suspended IGST refund claims, re-credit of erroneously sanctioned refunds, conditional relaxation of e-commerce supplier registration, options for GTA tax regimes, extensions and waivers for specified filings, and issuance of clarificatory circulars to reduce litigation. Articles Goods and Services Tax - GST Tue, 02 Aug 2022 09:47:59 +0530 https://www.taxtmi.com/article/detailed?id=10572