Page 83 - GSTL_2nd April 2020_Vol 35_Part 1

2020 ] NOTIFICATIONS & RULES S9
Provided that where any capital goods earlier covered under
clause (b) are subsequently covered under clause (c), the input tax
credit claimed in respect of such capital good(s) shall be added to
arrive at the aggregate value ‘T c’;”;
(c) in clause (e), the following Explanation shall be inserted, namely :-
“Explanation. - For the removal of doubt, it is clarified that useful life
of any capital goods shall be considered as five years from the date
of invoice and the said formula shall be applicable during the useful
life of the said capital goods.”;
(d) clause (f) shall be omitted.
6. In the said rules, in rule 80, in sub-clause (3), the following proviso
shall be inserted, namely :-
“Provided that every registered person whose aggregate turnover dur-
ing the financial year 2018-2019 exceeds five crore rupees shall get his ac-
counts audited as specified under sub-section (5) of section 35 and he
shall furnish a copy of audited annual accounts and a reconciliation
statement, duly certified, in FORM GSTR-9C for the financial year 2018-
2019, electronically through the common portal either directly or
through a Facilitation Centre notified by the Commissioner.”.
7. In the said rules, in rule 86, after sub-rule (4), the following sub-rule
shall be inserted, namely :-
“(4A) Where a registered person has claimed refund of any amount
paid as tax wrongly paid or paid in excess for which debit has been
made from the electronic credit ledger, the said amount, if found admis-
sible, shall be recredited to the electronic credit ledger by the proper of-
ficer by an order made in FORM GST PMT-03.”.
8. In the said rules, in rule 89, in sub-rule (4), for clause (C), the follow-
ing clause shall be substituted, namely :-
‘(C) “Turnover of zero-rated supply of goods” means the value of zero-
rated supply of goods made during the relevant period without payment
of tax under bond or letter of undertaking or the value which is 1.5 times
the value of like goods domestically supplied by the same or, similarly
placed, supplier, as declared by the supplier, whichever is less, other
than the turnover of supplies in respect of which refund is claimed under
sub-rules (4A) or (4B) or both;”.
9. In the said rules, in rule 92, -
(a) after sub-rule (1), the following sub-rule shall be inserted, namely :-
“(1A) Where, upon examination of the application of refund of
any amount paid as tax other than the refund of tax paid on zero-
rated supplies or deemed export, the proper officer is satisfied that a
refund under sub-section (5) of section 54 of the Act is due and pay-
able to the applicant, he shall make an order in FORM RFD-06
sanctioning the amount of refund to be paid, in cash, proportionate
to the amount debited in cash against the total amount paid for dis-
charging tax liability for the relevant period, mentioning therein the
amount adjusted against any outstanding demand under the Act or
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