The Government of Rajasthan on November 29, 2022, issued a notification clarifying issues under the Rajasthan Goods and Services Tax Act,2017.
The following has been clarified-
•Vide Notification No. F.12(15)FD /Tax/2022-30 dated July 16, 2022, the amendment has been made in sub-rule (5) of rule 89 of RGST Rules, 2017, modifying the formula prescribed therein. The said amendment is not clarificatory in nature and is applicable prospectively with effect from July 05, 2022. Accordingly, it is clarified that the said amended formula under sub-rule (5) of rule 89 of the RGST Rules, 2017 for calculation of refund of the input tax credit on account of inverted duty structure would be applicable in respect of refund applications filed on or after July 05, 2022. The refund applications filed before July 05, 2022, will be dealt with as per the formula as before the amendment made vide Notification No. F.12(15)FD /Tax/2022-30 dated July 16, 2022.
•Vide Notification No. F.12(15)FD /Tax/2022-37 dated July 16, 2022, under the powers conferred by clause (ii) of the first proviso to sub-section (3) of section 54 of the RGST Act, 2017, certain goods falling under chapter 15 and 27 have been specified in respect of which no refund of the unutilized input tax credit shall be the credit has allowed, where accumulated on account of rate of tax on inputs being higher than the rate of tax on the output supplies of such specified goods (other than nil rated or fully exempt supplies). The said notification has come into force from July 18, 2022. Chapters 15 and 27 have been specified in respect of which no refund of the unutilized input tax credit shall be the credit has allowed, where accumulated on account of the rate of tax on inputs being higher than the rate of tax on the output supplies of such specified goods (other than nil rated or fully exempt supplies). The said notification has come into force from July 18, 2022.
[Notification No. F.17 (134-PL-III) ACCT/GST/2017/8117]
