The GST Council in its 28th meeting held on July 26, 2018 has recommended to allow refund of unutilised ITC to taxpayers in the textiles sector. Accordingly, CBIC has issued Notification No. 20/2018 – Central Tax (Rate) dated July 26, 2018 to implement the above decision. However, it was stated by said Notification that the accumulated credit lying unutilized as on July 31, 2018 will lapse.

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