TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Amendment to IGST Act: Clause 114 of Finance Bill 2021 modifies Section 16, focusing on zero-rated supply refunds and conditions.</h1> Clause 114 of the Finance Bill, 2021 proposes amendments to section 16 of the Integrated Goods and Services Tax Act, 2017. The amendments include inserting the phrase 'for authorised operations' in sub-section (1), clause (b), and replacing sub-section (3) to allow registered persons making zero-rated supplies to claim refunds of unutilised input tax credit without paying integrated tax, subject to conditions. It mandates refund repayment with interest if export proceeds are not realized within the prescribed time. Additionally, the government may specify classes of persons or goods eligible for zero-rated supply with integrated tax payment and refund eligibility.
TaxTMI 
TaxTMI 
