Refund of Input Tax Credit clarified: refunds allowed for zero rated exports despite certain notification benefits, with EPCG exception preserved. Amendment permits refund of unutilized input tax credit on zero-rated supplies without payment of tax where inputs were received under specified state or central notifications or customs notification benefits, and allows refund of credits for other inputs or input services used in such exports. It further restricts integrated tax refunds on exports when benefits under prescribed notifications or customs notifications have been availed, while preserving an exception for capital goods received under the Export Promotion Capital Goods scheme.
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Provisions expressly mentioned in the judgment/order text.
Refund of Input Tax Credit clarified: refunds allowed for zero rated exports despite certain notification benefits, with EPCG exception preserved.
Amendment permits refund of unutilized input tax credit on zero-rated supplies without payment of tax where inputs were received under specified state or central notifications or customs notification benefits, and allows refund of credits for other inputs or input services used in such exports. It further restricts integrated tax refunds on exports when benefits under prescribed notifications or customs notifications have been availed, while preserving an exception for capital goods received under the Export Promotion Capital Goods scheme.
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