Question : How soon will refund in respect of export of goods or services be granted during the GST regime? Answer: (a) In case of refund of tax on inputs used in exports: • Refund of 90% will be granted provisionally within seven days of acknowledgement of refund application. • Remaining 10% will be paid… Read More »
Question : When a SEZ unit or SEZ developer procures any goods or services from an unregistered supplier, whether the SEZ unit or SEZ developer needs to pay IGST under reverse charge or these will be zero rated supplies? Answer: Supplies to SEZ unit or SEZ developer have been accorded the status of inter-State supplies under… Read More »
Question : The supplies to a SEZ unit or SEZ developer are treated as zero rated supplies in the GST Law. Then why there is no specific mention in the GST Law about not charging of tax in respect of supplies from DTA unit to a SEZ unit or SEZ developer? Answer: Yes, supplies made to… Read More »
Question : For merchant exporters, is there any change in the Export Procedure under the GST regime? Answer: The concept of merchant or manufacturer exporter would become irrelevant under the GST regime. The procedure in respect of the supplies made for export is same for both merchant exporter and a manufacturer exporter. GST on Export… Read More »
Question : Have the procedures relating to exports by manufacturer exporters been simplified in GST regime? Answer: Yes. The procedures relating to export have been simplified so as to do away with the paper work and intervention of the department at various stages of export. The salient features of the scheme of export under GST… Read More »
Question : What will be the impact of GST on zero rating of export of goods? Answer: This will make Indian exports competitive in the international market. 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 GST Act and… Read More »
How are exports treated under the GST Law? Answer: Under the GST Law, export of goods or services has been treated as: • inter-State supply and covered under the IGST Act. • ‘zero rated supply’ i.e. the goods or services exported shall be relieved of GST levied upon them either at the input stage or… Read More »
GST on Textile Read FAQ’s : GST on Textile Question 1: As per Chapter 53 heading 5303 of the GST rate schedule, raw jute has been kept at the NIL rate slab. Thus, it is presumed that suppliers dealing only in raw jute are not required to register themselves under GST. But Jute Mills are… Read More »
GST on Export FAQ’s on Export under GST Question 1 : How are exports treated under the GST Law? Question 2: What will be the impact of GST on zero rating of export of goods? Question 3: Have the procedures relating to exports by manufacturer exporters been simplified in GST regime? Question 4: For merchant… Read More »
GST on MSME Read FAQ’s : GST on MSME Question 1: What is GST? Question 2: On what supply is GST levied? Question 3: Will GST be levied on all goods or services or both? Question 4: How many types of GST will be levied on different kinds of supply of goods or services? Question… Read More »