Section 54 CGST Act 2017 governs REFUND of GST. Key categories include:

1. Section 54 CGST Act 2017 governs REFUND of GST. 2. REFUND CATEGORIES: 3. (i) EXPORT of goods or services (zero-rated supplies) — refund of unutilized ITC or IGST paid; 4. (ii) Supplies to SEZ developer/SEZ unit (zero-rated); 5. (iii) INVERTED DUTY STRUCTURE — input tax > output tax; 6. (iv) Refund on account of TAX paid wrongly; 7. (v) Refund of UNUTILIZED ITC on closure of business; 8. (vi) Refund of accumulated ITC on account of zero-rated supplies. 9. TIME LIMIT: refund claim within 2 YEARS from relevant date (Section 54(1)). 10. PROCESS: refund application in FORM RFD-01; provisional refund of 90% within 7 days; final refund within 60 days. 11. INTEREST under Section 56 if refund not granted within 60 days. 12. Hence option B is correct. _Source: CS Executive Paper 4 Tax Laws (ICSI BoS) + Income Tax Act 1961 + CGST Act 2017 — CGST Act 2017, Section 54_