When to file refund claim for Manufactur
er of polyster fabrics Under chapter 54
as per the notification dt 23 July 2018
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ITC lying unutilized refund
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Fabrics attract GST at the rate of 5% subject to the condition that refund of accumulated ITC on account of inversion will not be allowed. However, considering the difficulty faced by the Fabric sector on account of this condition, CBIC has allowed refund to fabrics on account of inverted duty structure.
The refund of accumulated ITC shall be allowed with effect from 27th of July, 2018.
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