https://www.taxtmi.com/article/detailed?id=10289 Restriction imposed by Rule 96(10), read with Section 16 of the IGST Act and Section 54 of the CGST Act, limits refund eligibility where import duty exemptions were availed; a retrospective explanatory notification altered the rule's scope prompting demands for repayment of refunds with interest. Exporters have three operative choices: judicially challenge the restriction as ultra vires; regularise imports by paying exempted IGST and amending bills of entry to secure input tax credit entitlement; or repay refunded IGST and dispute interest and recovery implications, while coordinating with customs and DGFT for licence redemption. en-us Thu, 24 Feb 2022 11:20:47 +0530 Thu, 24 Feb 2022 11:20:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=10289 Restriction imposed by Rule 96(10), read with Section 16 of the IGST Act and Section 54 of the CGST Act, limits refund eligibility where import duty exemptions were availed; a retrospective explanatory notification altered the rule's scope prompting demands for repayment of refunds with interest. Exporters have three operative choices: judicially challenge the restriction as ultra vires; regularise imports by paying exempted IGST and amending bills of entry to secure input tax credit entitlement; or repay refunded IGST and dispute interest and recovery implications, while coordinating with customs and DGFT for licence redemption. Articles Goods and Services Tax - GST Thu, 24 Feb 2022 11:20:47 +0530 https://www.taxtmi.com/article/detailed?id=10289