https://www.taxtmi.com/article/detailed?id=12559 Exporters of zero rated supplies without payment of tax can claim refund of unutilised input tax credit under the general refund formula or under specific sub rules for exporters who import or procure exempt inputs; Rule 89(4) prescribes a formula and does not by its terms bar such exporters, while the specific sub rule permits refund "to the extent used" but provides no statutory calculation method. Absent a formula, taxpayers must adopt a rational, documented apportionment (for example input output ratios, weighted average input prices and exclusion of exemptly procured inputs) and face potential dispute with tax authorities. en-us Thu, 25 Apr 2024 10:16:13 +0530 Thu, 25 Apr 2024 10:16:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=12559 Exporters of zero rated supplies without payment of tax can claim refund of unutilised input tax credit under the general refund formula or under specific sub rules for exporters who import or procure exempt inputs; Rule 89(4) prescribes a formula and does not by its terms bar such exporters, while the specific sub rule permits refund "to the extent used" but provides no statutory calculation method. Absent a formula, taxpayers must adopt a rational, documented apportionment (for example input output ratios, weighted average input prices and exclusion of exemptly procured inputs) and face potential dispute with tax authorities. Articles Goods and Services Tax - GST Thu, 25 Apr 2024 10:16:13 +0530 https://www.taxtmi.com/article/detailed?id=12559