refund - inverted duty structure

u work on ur own

As per rule 89(5) of CGST rules refund is calculated as per following formula:
Maximum Refund={(Turnover of inverted rated supply of goods) X Net ITC ÷ Adjusted Turnover} - Tax Payable on such Inverted Rated supply

Let's take an example:

AV. TAX
1. Raw Material (Inward Supply) 100. 12
2. Fabric (Outward supply ). 150. 7.5

M.R = (150*12)/150)-7.5 = 4.5