Blogs

GST has completed 5 years now. Issuance and circulation of fake invoices among companies without actual supply of goods and irregular transfer of input credit to originating companies for payment of GST is contemporary & burning issue. One of key challenges in GST is devising a mechanism to identify & curb issuers of fake invoices at the time of GST Registration itself. Huge amount of public money misappropriated under this scam every year. I am sure it will not be possible for the...

Introduction

Inverted duty structure refund has been subject matter of numerous interpretational issues since introduction of this concept in GST law. The Council in its 47^th Meeting tweaked the formula for claiming refund. In this article, an attempt has been made to analyse the application of the amendments made in the [1] formulae prescribed for the calculation of refund of unutilized ITC accumulated due to an inverted rate structure and [2] the impact of the withdrawal of the refund...