Can unutilized Input tax credit be allowed as refund?

Question 2 – Draft-Bills-Reports – Refunds – FAQ on GST dated 21.9.2016 based on Draft Model GST – Question 2 – Q 2. Can unutilized Input tax credit be allowed as refund? Ans. Yes, but only in following cases as given in sub-section (2) of section 38:- (i) Exports of goods on which export duty is not payable; (ii) Exports of services; (iii) Where credit has accumulated on account of rate of tax on inputs being higher than the rate of taxes on Outputs. – Statutory Provisions, Acts, Rules, Regula

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