Daily Archives: July 19, 2017

Drawback after GST regime

By | July 19, 2017

Drawback after GST regime 1. For a transition period of three months i.e. 1.7.2017 to 30.9.2017, composite rates of All Industry Rate (AIR) drawback are available to exporters. I. These composite rates are subject to certain conditions during transition period that ensure that input credit /refund under GST and drawback of composite rates are not… Read More »

GST : No exemptions for unutilized EXIM scrips

By | July 19, 2017

Question : What will be exemptions available for various authorizations/scrips which have been issued prior to 1.7.2017 and remain unutilized on 1.7.2017? Answer: No exemption under GST Law is provided. The EXIM scrips under the export incentive schemes of chapter 3 of FTP (for example MEIS and SEIS) can be utilised only for payment of… Read More »

Category: GST

GST : Benefits of EPCG scheme,duty credit scrips , MEIS , SEIS , Advance authorization scheme

By | July 19, 2017

Question : Under the GST regime, will benefit of exemption from all duties available under Advance authorization scheme, EPCG scheme and duty credit scrips such as Merchandise Exports from India Scheme (MEIS) & Service Ex-ports from India Scheme (SEIS) will continue? Answer:• After 1st July 2017, the benefits under all the said schemes shall be… Read More »

Category: GST

Where to file application for fixation of brand rate after GST

By | July 19, 2017

Question : Applications for fixation of brand rate used to be filed with jurisdictional Commissioner of Central Excise having jurisdiction over the factory where export goods were manufactured. Under GST regime, will there be any change regarding filing of application for fixation of brand rate? Answer: With effect from 1st July 2017, applications for fixation… Read More »

Category: GST

Duty Drawback scheme continue under GST

By | July 19, 2017

Question : Will duty Drawback scheme continue under GST regime? If yes, what will be the rates of Drawback? Answer: Yes. Duty Drawback scheme with certain modifications will continue under the GST regime. The changes in the said scheme are as follows: • The Drawback shall be available only of Customs duties on imported inputs… Read More »

Category: GST

Purchase from unregistered persons : Exporter to pay GST on Reverse Charge

By | July 19, 2017

Question : Will an exporter be required to pay GST in case of goods procured from unregistered persons (including unregistered job workers)? Answer: In case of supply by an unregistered person (including unregistered job workers), the registered person i.e., exporter shall be liable to pay GST under reverse charge mechanism. However the exporter can avail… Read More »

Category: GST

Whether an EOU can clear goods in DTA ?

By | July 19, 2017

Question : Whether an EOU can clear goods in DTA? Answer: Yes, an EOU can clear goods in DTA in accordance with the provisions laid in the Foreign Trade Policy. GST on Export : FAQ’s GST on Textile : FAQ’s GST on MSME : FAQ’s Related Topic on GST Topic Click Link GST Acts  Central… Read More »

Category: GST

GST procedurefor merchant exporters

By | July 19, 2017

Question : We are merchant exporters dealing in various products.As per current procedure, we purchase goods from a particular factory against CT1/ARE1 so that no excise is levied on us. After goods are exported, we provide proof of export and Form H (for sales tax exemption) to the concerned factory. How would GST impact us… Read More »

Category: GST

Tax benefits available to EOU scheme in GST regime

By | July 19, 2017

Question 11: What tax benefits will be available to EOU scheme in GST regime? Answer: The duty free imports under GST regime will be restricted to Basic Customs Duty. Exemption from the additional duties of Customs, if any, under section 3(1), 3(3) and 3(5) of the Customs Tariff Act, 1975 and exemption from Central Excise… Read More »

Category: GST

whether EOU scheme will continue under GST

By | July 19, 2017

Question : Whether the EOU scheme will continue to be in operation in the GST regime and whether EOU is required to take registration under the GST Law? Answer: EOU is like any other supplier under GST and all the provisions of the GST Law will apply. However, the benefit of Basic Customs Duty exemption… Read More »

Category: GST

What is deemed export under GST Law of India

By | July 19, 2017

Question : What is deemed export under GST Law? Whether any supply has been categorized as deemed export by the Government? Answer: Deemed export has been defined under Section 2(39) of CGST Act, 2017 as supplies of goods as may be notified under section 147 of the said Act. Under section 147, the Government may,… Read More »

Category: GST