Economics · Economy
With reference to Inverted Duty Structure (IDS) under GST, consider the following statements: I. IDS occurs when the tax rate on inputs is higher than the tax rate on the final outward supply. II. IDS can lead to an accumulation of unutilised Input Tax Credit (ITC), for which statutory refund mechanisms are provided under Section 54(3) of the CGST Act. Which of the statements given above is/are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Both I and II✓
- 2I only
- 3II only
- 4Neither I nor II
Correct answer
Both I and II
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