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TMI BlogAmendment in Jammu and Kashmir Goods and Services Tax Rules, 2017X X X X Extracts X X X X X X X X Extracts X X X X ..... replaced with brackets and figure (3) ; (ii) in rule 89, for sub-rule (5), the following shall be substituted, namely :- "(5) In the case of refund on account of inverted duty structure refund of input tax credit shall be granted as per the following formula :- Maximum Refund Amount=[(Turnover of inverted rated supply of goods and services) x Net ITC ÷Adjusted Total Turnover]-tax payable on such inverted rated supply of goods and services. Explanation :--For the purposes of this sub-rule, the expressions-- (a) "Net ITC" shall mean input tax credit availed on inputs during the relevant period other than the input tax credit availed for which refund is claimed under sub-rules (4A) or (4B) or both ; and (b) "Adjusted Total Turnov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er members as it may deem it and the Committee shall make recommendations for proper utilization of the money credited to the Fund for welfare of the consumers. (5) (a) The Committee shall meet as and when necessary, generally four times in a year ; (b) the Committee shall meet at such time and place as the Chairman, or in his absence, the Vice-Chairman of the Committee may deem fit ; (c) the meeting of the Committee shall be presided over by the Chairman or in his absence, by the Vice Chairman ; (d) the meeting of the Committee shall be called, after giving at least ten days notice in writing to every member; (e) the notice of the meeting of the Committee shall specify the place, date and hour of the meeting and shall contain statemen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the grant ; (h) to reject an application placed before it on account off actual in consistency, or in accuracy in material particulars ; (i) to recommend minimum financial assistance, by way of grant to an applicant, having regard to his financial status, and importance and utility of the nature of activity under pursuit, after ensuring that the financial assistance provided shall not be misutilised ; (j) to identify beneficial and safe sectors, where investments out of Fund may be made, and make recommendations, accordingly ; (k) to relax the conditions required for the period of engagement in consumer welfare activities of an applicant ; (l) to make guidelines for the management, and administration of the Fund. (7) The Committee ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Companies Act, 2013 (18 of 2013) or under any other law for the time being in force ; (iv) village or mandal or samiti or samiti level co-operatives of consumers especially Women, Scheduled Castes and Scheduled Tribes ; (v) an educational or research institution incorporated by an Act of Parliament or the Legislature of a State or Union Territory in India or other educational institutions established by an Act of Parliament or declared to be deemed as a University under section 3 of the University Grants Commission Act, 1956 (3 of 1956) and which has consumers studies as part of its curriculum for a minimum period of three years ; and (vi) a complainant as defined under clause (b) of sub-section (l) of section 2 of the Consumer Protectio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ice value reduced by1/60th per month or part thereof from the date of invoice" ; (iv) after FORM GSTR-8, the following FORM shall be inserted, namely :-- FORM GSTR-10 (See rule 81) Final Return 1. GSTIN 2. Legal name 3. Trade Name, if any 4. Address for future correspondence 5. Effective date of cancellation of registration (Date of closure of business or the date from which registration is to be cancelled) 6. Reference number of cancellation order 7. Date of cancellation order 8. Details ofinputs held in stock, inputs contained in semi-finished or finished goods held in stock, and capital goods/plant and machinery on which input tax credit is required to be reversed and paid back to Government Sr. No. GSTIN I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e (a) Central Tax (b) State/Union territory tax 11. Verification I hereby solemnly affirm and declare that the information given hereinabove is true and correct to the best of my knowledge and belief and nothing has been concealed therefrom. Signature of authorized signatory _______________________________________ Name _______________________________________ Designation/Status ____________________________ Date - dd/mm/yyyy Instructions: 1. This form is not required to be filed by taxpayers or persons who are registered as :- (i) Input Service Distributors; (ii) Persons paying tax under section 10; (iii) Non-resident taxable person; (iv) Persons required to deduct tax at source under section 51; and (v) Persons required t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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