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of <h1>Govt Notifies Goods with No Refund of Unutilized Input Tax Credit Under Inverted Duty Structure, Per Notification No. 5/2017</h1> The Government of India issued Notification No. 5/2017-Central Tax (Rate) under the Central Goods and Services Tax Act, 2017, detailing goods for which no refund of unutilized input tax credit is allowed due to an inverted duty structure. This applies when the tax rate on inputs exceeds that on outputs, except for fully exempt supplies. The notification lists specific goods, including various oils, fabrics, and railway equipment, and specifies conditions under which the accumulated credit will lapse. Amendments and provisions for certain goods received after August 1, 2018, are also included, with the notification effective from July 1, 2017.
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