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of <h1>Fabric Exporters Eligible for GST Input Tax Credit Refunds u/s 54(3) of CGST Act, 2017.</h1> The circular addresses the refund of unutilized input tax credit (ITC) of GST paid on inputs for fabric exporters. Under section 54(3) of the CGST Act, 2017, refunds are generally restricted except for zero-rated supplies or when the input tax rate exceeds the output tax rate. Notification No. 5/2017 limits ITC refunds on specific goods but exempts zero-rated supplies, including exports and supplies to Special Economic Zones. Thus, fabric manufacturers exporting goods are eligible for ITC refunds on inputs, excluding capital goods, as per section 54(10) provisions. Any implementation issues should be reported to the Board.
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