“GST refund refers to any amount that is due to the taxpayer from the tax administration.”
Section 16 of IGST Act, 2017 entitles exporters to claim a refund under either of the two options:
- Export without payment of IGST under bond or Letter of Undertaking (LUT) and claim a refund of unutilized Input Tax Credit (ITC) or
- Export with payment of IGST and claim refund of such IGST paid