Refund of Input Tax Credit Due to Inverted Duty Structure Allowed Under CGST Act for Zero-Rated Supplies.

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....Refund of accumulated Input Tax Credit - inverted duty structure - Under Clause (i) of the proviso to Section 54(3) of the CGST Act, refund of ITC is available in cases of zero rated supplies made without payment of tax. In terms of Clause (ii) of the proviso to Section 54(3) of the CGST Act, refund is admissible, where the credit is accumulated on account of rate of tax on inputs being higher than the rate of tax of output supplies. - Refund directed to process the refund application - HC....