Reversal of ITC in case of reduction of rate of tax

Sir, reversal is required only if GST becomes exempted for the product. In case of reduction in rate (e.g. 18% to 12%), no ITC is reversal is required. 

However, recent clarifications have been given that refund under inverted tax structure will not be provided in the above cases. This does not mean ITC has to be reversed, it just means that refund cannot be claimed. ITC already claimed can be continued with. These clarifications themselves are without any legal basis. 

Hope this clarifies. 

Agreed - compliance with antiprofiteering law is mandatory.