The Ministry of Finance (MoF) on October 19, 2023, amended an older notification No. 5/2017-Integrated Tax (Rate), dated June 28, 2017, related to goods falling under the tariff item in respect of which no refund of unutilized input tax credit shall be allowed.
The following has been stated: -
•In the said notification, in the TABLE, after S. No. 6A and the entries relating thereto, following S.No. and the entries shall be inserted, namely: -
6AA which talks about the imitation zari thread or yarn made out of Metallised polyester film /plastic film; Explanation: This entry shall apply for refund of input tax credit only on polyester film /plastic film”
This notification shall come into force with effect from October 20, 2023.
The detailed notification is given in the document attached below.
[Notification No. 23/2023-Integrated Tax (Rate)]
