Eye Share: Refund of ITC – The Next Big Litigation - Part - 1

Recently, amendment has been carried out in definition of the phrase ‘turnover of zero-rated supply of goods’ appearing in Rule 89 of the CGST Rules. Also, the formula for calculating the amount of refund which would be admissible to a registered person undertaking zero rated supplies, has been amended. Against this backdrop, Mr. S Rahul Jain (Joint Partner, Lakshmikumaran & Sridharan Attorneys) with Mr. Rohan Muralidharan (Principal associate)&nbs...