Is their any change in calculation of inverted duty refund on sale of cloth. Service and capital goods ITC is to be deducted as before.
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Yes there is a change in the calculation of refund in case of inverted duty structure.
Kindly refer to changes made in rule 89 (5) w.e.f. 18.07.2022 vide clause 8 (d) of NOTIFICATION NO. 14/2022–Central Tax dated 05.07.2022.
These are ex facie views of mine and the same should not be construed as professional advice / suggestion.