Non relisation of export proceeds within FEMA time recovery of refund of unultilsed input tax credit of IGST paid on export of goods [Rule 96B of CGST Ruels]

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..... hin FEMA - time (including extension) - payback Pro-rata refund of ITC/IGST within 30 days with interest [Rule 96B(1) of CGST Rules ] * Where any refund of unutilised input tax credit on account of export of goods or of integrated tax paid on export of goods has been paid to an applicant, * but the sale proceeds in respect of such export goods have not been realised, in full or in part, in Ind .....

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..... the applicant within the period allowed under the FEMA Act,1999, but the Reserve Bank of India writes off the requirement of realisation of sale proceeds on merits, the refund paid to the applicant shall not be recovered. (2) Subsequent realisation export proceed within time frame of RBI and prove submitted within 3 month from realisation - Amount paid by applicant to be refunded back pro data [ .....

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