Inverted duty structure refund has been subject matter of numerous interpretational issues since introduction of this concept in GST law. The Council in its 47th 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  formulae prescribed for the calculation of refund of unutilized ITC accumulated due to an inverted rate structure and  the impact of the withdrawal of the refund...Read more
Whenever any amendment is proposed at the GST Council Meetings, it has a history to it, which when understood makes the intention clearer. In this article we would be trying to understand the proposed increase in the rate of GST to 18% in relation to the licensing services to broadcast and show original films, sound recordings, radio and television programmes.
The Indian GST law has a lot of complications due to our federal structure, like requirement of identifying the State to which the...Read more