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of <h1>Rule 96B: Recovery of GST Refunds on Unutilised Input Tax Credit for Exports If Proceeds Aren't Realised Timely.</h1> Rule 96B of the Central Goods and Services Tax Rules, 2017, addresses the recovery of refunds for unutilised input tax credit or integrated tax paid on exported goods when export proceeds are not realised within the period allowed under the Foreign Exchange Management Act, 1999. If the sale proceeds are not realised, the refund recipient must repay the refunded amount with interest within thirty days after the allowed period or its extension. If the Reserve Bank of India waives the realisation requirement, recovery is not pursued. If proceeds are later realised, the refunded amount can be reclaimed upon proof of realisation within the permitted timeframe.
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