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Refund on Duty Inverted Dtructure
we are going to apply for refund under Duty Inverted Structure. We had sold Nil rated Supplies, In this situation, Is rule 42 and 43 is applicable for claiming tefund? i.e, I had not reversed ITC under Rule 42 and 43?
Replies (1)
Yes if there are common ITC and dedicated ITC to exempt supplies they need to be reversed as they are ineligible. Working of refund only to be done on eligible ITC
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