Issued as the CGST (Fourth Amendment) Rules, 2018, this notification substitutes rule 89(5) to prescribe a revised formula for refund of unutilised ITC under inverted duty structure (retrospective from 01 July 2017). It also substitutes rule 97, comprehensively restructuring the Consumer Welfare Fund, including its constitution, utilisation and audit. The amendments enhance refund equity and fund governance.

Amendment:

This notification amends notification No. 3/2017