https://www.taxtmi.com/circulars?id=66062 An amended formula for calculating refunds of unutilised input tax credit due to inverted duty structure is applicable prospectively and governs refund applications filed on or after the amendment's effective date; applications filed earlier must follow the prior formula. A separate notification proscribes refunds for specified goods where input tax exceeds output tax, and that restriction likewise applies prospectively to refund applications filed on or after its effective date and not to earlier-filed claims. en-us Thu, 17 Nov 2022 00:00:00 +0530 Thu, 07 Dec 2023 16:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=66062 An amended formula for calculating refunds of unutilised input tax credit due to inverted duty structure is applicable prospectively and governs refund applications filed on or after the amendment's effective date; applications filed earlier must follow the prior formula. A separate notification proscribes refunds for specified goods where input tax exceeds output tax, and that restriction likewise applies prospectively to refund applications filed on or after its effective date and not to earlier-filed claims. Circulars GST - States Thu, 17 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/circulars?id=66062