1) 14/2022.CT, Dt: 05/07/2022
a) 8.c,For the purposes of this sub-rule, the value of goods exported out of India shall be taken as –
(i) the Free on Board (FOB) value declared in the Shipping Bill or Bill of Export form, as the case may be, as per the Shipping Bill and Bill of Export (Forms) Regulations, 2017; or
(ii) the value declared in tax invoice or bill of supply, whichever is less.;
b)8.d,in sub-rule (5),
Tax payable on such inverted rated supply of goods and services‖, the brackets, words and letters ={tax payable on such inverted rated supply of goods and services x (Net ITC’/ ITC availed on inputs and input services)}.
1) 13/2022.CT, Dt: 05/07/2022
(ii), Excludes the period from the 1st day of March, 2020 to the 28th day of February, 2022 for computation of period of limitation under sub-section (10) of section 73 of the said Act for issuance of order under subsection (9) of section 73 of the said Act, for recovery of erroneous refund;
(iii), Excludes the period from the 1st day of March, 2020 to the 28th day of February, 2022 (23 Months) for computation of period of limitation for filing refund application under section 54 or section 55 of the said Act.
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