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of <h1>Karnataka Clarifies GST Refunds for Fabric Exporters u/s 54(3) of KGST Act 2017; Zero-Rated Supplies Exempt.</h1> The circular from the Karnataka Department of Commercial Taxes addresses the refund of unutilized input tax credit (ITC) of GST for exporters of fabrics. It clarifies that under section 54(3) of the KGST Act, 2017, registered persons can claim refunds for zero-rated supplies or when input tax rates exceed output tax rates. Notification 5/2017 restricts ITC refunds for certain goods but exempts zero-rated supplies, including exports. Therefore, fabric exporters can claim refunds on unutilized ITC for GST paid on inputs, excluding capital goods. The circular aligns with a prior central circular and is effective from the same date.
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