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Can unutilized Input tax credit be allowed as refund?
Team SoOLEGAL | 01/01/1970

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.


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