Refund of ITC on account of zero-rated supplies

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Refund of Unutilized ITC

Reading Time: 13 minutes Refund of Unutilized Input Tax Credit (ITC), Accumulation of Input Tax Credit (ITC) happens when the tax paid on inputs is more than the output tax liability. Such accumulated ITC is allowed to be carried over to the subsequent tax periods till such time it can be utilized by the registered person for payment of
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