Eye Share: Peculiarities in the Calculation of Refund Under Inverted Duty Structure in GST

After the Gujarat HC’s decision in case of VKC Footsteps India Pvt. Ltd. [TS-585-HC-2020(GUJ)-NT] the clauses dealing with refund of accumulated ITC on account of rate of tax on inputs being higher than the rate of tax on output supplies (i.e. Inverted Duty Structure) has been one of the most discussed clauses. On similar lines, author CA Gaurav Kenkre discusses some more interesting issues in the way the refund provisions have been crafted.Citing t...