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of <h1>Amendment to Section 16 of IGST Act: New Provisions for Zero-Rated Supplies, Refunds on Unutilised Input Tax Credit</h1> Section 16 of the Integrated Goods and Services Tax Act, 2017, is amended to include the phrase 'for authorised operations' in clause (b) of sub-section (1). Sub-section (3) is replaced, allowing registered persons making zero-rated supplies to claim refunds on unutilised input tax credit without integrated tax payment, subject to conditions and procedures. If sale proceeds are not realized, the refund must be deposited with interest within thirty days after the Foreign Exchange Management Act's prescribed time limit. Sub-section (4) enables the government to specify classes of persons and goods for zero-rated supply and tax refund eligibility through notifications.
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