Refund of unutilised input tax credit barred where zero-rated goods are subject to export duty, restricting integrated tax refunds. The amendment omits the second proviso to the refund sub section and inserts a new sub section providing that no refund of unutilised input tax credit or ... Summary
Refund of unutilised input tax credit barred where zero-rated goods are subject to export duty, restricting integrated tax refunds.
The amendment omits the second proviso to the refund sub section and inserts a new sub section providing that no refund of unutilised input tax credit or of integrated tax shall be allowed where zero rated supply of goods is subjected to export duty.
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