Clause 124 - Amendment of section 54. - Finance (No. 2) Bill, 2024

Amendment of section 54. 124. In section 54 of the Central Goods and Services Tax Act, (a) in sub-section (3), the second proviso shall be omitted; (b) after sub-section (14) and before the Explanation, the following sub-section shall be inserted, namely: (15) Notwithstanding anything contained in this section, no refund of unutilised input tax credit on account of zero rated supply of goods or of integrated tax paid on account of zero rated supply of goods shall be allowed where such zero rated supply of goods is subjected to export duty. .