Refinement in formula for claiming refund of ITC in case of Inverted Duty Structure
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Amrita Jaiswal | Business Finance Coach on Instagram: "⚠️ Inverted Duty Structure in GST — Full Guide When GST on inputs > GST on outputs, ITC gets stuck 😥 That’s called Inverted Duty Structure (IDS)! 📌 Refund Formula: (Turnover of Inverted Supplies × Net ITC / Adjusted Total Turnover) – Tax on Inverted Supplies 📍How to Claim Refund? ✅ File GSTR-1 + GSTR-3B + RFD-01 ✅ Apply within 2 years ⏱️ ✅ ARN generated → Docs submitted → Refund processed by the officer 💸 🚫 Refund Not Allowed If: ❌ Outp
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