No refund of unutilized input tax credit for zero-rated goods under export duty as per GST Section 54(15).
No refund of unutilized input tax credit or integrated tax paid will be allowed for zero-rated supply of goods if those goods are subjected to export duty, as per Section 54(15) of the GST law, effective from November 1, 2024, following Notification No. 17/2024 dated September 27, 2024. This provision was introduced by the Finance (No. 2) Act, 2024, overriding other stipulations in Section 54 regarding refunds.
Full Summary is availble for active users!
Note: It is a system-generated summary and is for quick
reference only.
TaxTMI 
of 
https://www.taxtmi.com/ma...
TaxTMI 
