https://www.taxtmi.com/manuals?id=2565 Refunds under rule 89(5) are calculated by allocating Net ITC-input tax credit availed and entered into the electronic credit ledger in the relevant period-proportionally to turnover of inverted-rated supplies using Adjusted Total Turnover, and then deducting the tax payable on those inverted-rated supplies adjusted for ITC utilisation; transitional credits are excluded from Net ITC and inputs' ITC is includible irrespective of individual input rates, subject to section 17(5) restrictions. en-us Mon, 03 Apr 2023 17:00:00 +0530 Fri, 20 Dec 2024 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2565 Refunds under rule 89(5) are calculated by allocating Net ITC-input tax credit availed and entered into the electronic credit ledger in the relevant period-proportionally to turnover of inverted-rated supplies using Adjusted Total Turnover, and then deducting the tax payable on those inverted-rated supplies adjusted for ITC utilisation; transitional credits are excluded from Net ITC and inputs' ITC is includible irrespective of individual input rates, subject to section 17(5) restrictions. Manuals GST Mon, 03 Apr 2023 17:00:00 +0530 https://www.taxtmi.com/manuals?id=2565