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TMI BlogClarification on refund related issuesX X X X Extracts X X X X X X X X Extracts X X X X ..... ich provides for the refund of unutilized input tax credit in cases where credit is accumulated on account of rate of tax of inputs being higher than the rate of tax on output supplies, i. e., on account of inverted duty structure. Sub-rule (5) of rule 89 of the Manipur GST Rules, 2017 prescribes the formula for grant of refund in cases of inverted duty structure. Vide Notification No. 1/2022-Stat ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onferred by section 168 of the Manipur Goods and Services Tax Act, 2017 (hereinafter referred to as Manipur GST Act ), hereby clarifies the issues as under : Sl. No. Issue Clarification 1. Whether the formula prescribed under sub-rule (5) of rule 89 of the Manipur GST Rules, 2017 for calculatio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e 89 of the Manipur GST Rules, 2017 for calculation of refund of input tax credit on account of inverted duty structure would be applicable in respect of refund applications filed on or after July 5, 2022. The refund applications filed before July 5, 2022 will be dealt as per the existed before the amendment made vide Notification No. 1/2022-State Tax (Rules), dated July 7, 2022. formula as it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... goods falling under Chapters 15 and 27 have been specified in respect of which no refund of unutilised input tax credit shall be allowed, where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on the output supplies of such specified goods (other than nil rated or fully exempt supplies). The said notification has come into force with effect from Jul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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