Can unutilized Input tax credit be allowed as refund?

Question 2 – Draft-Bills-Reports – Refunds – FAQ on GST (2nd Edition) dated 31.3.2017 – Question 2 – Q 2. Can unutilized Input tax credit be allowed as refund? Ans. Unutilized input tax credit can be allowed as refund in accordance with the provisions of sub-section (3) of section 54 in the following situations: – (i) Zero rated supplies made without payment of tax; (ii) Where credit has accumulated on account of rate of tax on inputs being higher than the rate of taxes on output supplies (othe

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =