GST Refund Calculation for Inverted Duty Structure | Rule 89(5) скачать в хорошем качестве

GST Refund Calculation for Inverted Duty Structure | Rule 89(5)

GST Refund Calculation for Inverted Duty Structure | Rule 89(5) ‪@TECHGROWHUB‬ Get additional insights and tips to streamline your GST REFUND ! Join Our Whatsapp Channel https://whatsapp.com/channel/0029VaP3... Refund Calculation for Inverted Duty Structure Methodology for calculating refunds under the inverted duty structure Inverted Duty Structure (Rule 89(5) of CGST Rules) In the case of Inverted Duty Structure of Goods or Services or both Only Proportionate Refund of Inputs (ITC on Input Service and Capital Goods is not eligible to Refund in case of Inverted Duty Structure) shall be granted as per the following formula In the case of refund on account of inverted duty structure, refund of input tax credit shall be granted as per the following formula:- Maximum Refund Amount = {(Turnover of inverted rated supply of goods and services) x Net ITC /Adjusted Total Turnover} – 12[{tax payable on such inverted rated supply of goods and services x (Net ITC ÷ ITC availed on inputs and input services)}]. Explanation: – For the purposes of this sub-rule, the expressions – Net ITC shall mean input tax credit availed on inputs during the relevant period other than the input tax credit availed for which refund is claimed under sub-rules (4A) or (4B) or both Adjusted Total Turnover means the sum total of the value of- The turnover in a State or a Union territory, as defined under clause (112) of section 2, excluding the turnover of services; and The turnover of zero-rated supply of services determined in terms of clause (D) above and non-zero-rated supply of services, excluding- (i) the value of exempt supplies other than zero-rated supplies; and (ii) the turnover of supplies in respect of which refund is claimed under sub-rule (4A) or sub-rule (4B) or both, if any, during the relevant period.] Relevant period means the period for which the claim has been filed. GST refund process Eligibility criteria for GST refund Documentation required for GST refund Common challenges in GST refund claims GST refund timelines and procedures Impact of GST refund on businesses Strategies to maximize GST refund claims Recent updates and changes in GST refund rules Importance of staying updated on GST refund regulations Expert tips for smooth GST refund processing Input tax credit (ITC) Refund application process Refundable GST components GST refund status Refund processing time GST refund audits Refundable exports under GST GST refund for exporters Refundable GST on imports GST refund for small businesses Refundable GST for startups GST refund calculation GST refund tracking Refundable GST for service providers GST refund compliance requirements Refundable GST for specific industries (e.g., manufacturing, IT, healthcare) GST refund claim rejections GST refund appeals process Refundable GST for input services ‪@cadeepakgupta9‬ ‪@CAPuneetJain‬ ‪@GSTPLATFORM‬ ‪@gstupdates2086‬ #gstrefund #gst #goodsandservicestax #gstrefunds #inputtaxcredit #itc #gstrefund #gstindia #businesstips #gstawareness Copyright Disclaimer: - Under section 107 of the copyright Act 1976, allowance is mad for FAIR USE for purpose such a as criticism, comment, news reporting, teaching, scholarship and research. Fair use is a use permitted by copyright statues that might otherwise be infringing. Non- Profit, educational or personal use tips the balance in favor of FAIR USE.