The Central Board of Indirect Taxes and Customs (CBIC) has extended the time limit for sanction of pending IGST refunds in such cases where records have not been transmitted to ICEGATE due to GSTR1 and GSTR3B mismatch error. This overcomes the problem of refund blockage by allowing refunds subject to undertakings/submission of CA certificates by the exporters and post refund audit scrutiny. This facilitation was issued Vide Circular 04/2021 and would be applicable to all shipping bills filed up ..
At the present Sec. 16 of IGST Act deals with zero rated supplies under GST, the Finance bill 2021 proposed the changes in some provision in section 16 and the same produced below As per section.16 (1) of IGST Act, zero rates supplies means The export of goods or services both or Supply of goods or services or both to Special economic zone or special economic zone developer Amendment It is proposed to amend in clause (b) that 'Supply of goods or services or both ..