Ammendments for Zero Rated Supply

Earlier Zero rated supply includes supply made to SEZs. But after Budget session there has been ammendments for zero rated Supplies. 

• Zero rated supplies made to special economic zone restricted to supplies made for  authorised operations . 

• Only notified class of taxpayers or notified  

class of goods or services eligible for zero- 

rated supplies on payment of integrated tax  

(IGST) 

• Non-realisation of sale proceeds within  

prescribed time limits under Foreign  

Exchange Management Act, 1999 (FEMA) for  

export of goods to entail return of refund  

amount along-with applicable interest 

Retrospective amendments (1 July  

2017) .