The CBIC vide Notification No. 27/2023-Central Tax dated 31.08.2023, notified 1st October, 2023 to be the date for applicability of the provisions of Section 123 of the Finance Act, 2021 (i.e. Section 16 of the Integrated GST Act, 2017)

Amendment in Section 16 (3) of the IGST Act, 2017 

Now, all the registered persons making zero-rated supply shall be eligible to claim refund of unutilized ITC in accordance with Section 54 of the CGST Act, under bond/LUT without payment of Integrated Tax. The facility to clear the goods on payment of IGST and thereafter claim of refund of IGST payment has been withdrawn. 

Also, the facility to clear the goods on payment of IGST and thereafter claiming the IGST refund is available only to the notified class of persons or notified supplies of goods or services.

The Notification can be accessed at https://taxo.online/wp-content/uploads/2023/08/gst-ct-27-2023.pdf