Question : Whether exemption from all duties of Customs be available on imports under exemption schemes such as EPCG, Advance licence etc under GST regime? Answer: No. Exemption will be available only from Basic Customs Duty. IGST will be payable on such imports. However, the importer can avail ITC of IGST paid and utilise the… Read More »
Question : Is a job worker required to take registration? Answer: As job work is a service, it would be considered a supply and the job worker would be required to obtain registration if his aggregate turnover exceeds the prescribed threshold of Rs.20 lakhs or, as the case may be, Rs.10 Lakhs. Related GST… Read More »
Question : Whether goods sent by a taxable person to a job worker be treated as supply and will they be liable to GST? Answer: No, the goods sent by a registered person to a job worker is not a supply, as there is no transfer of title and no consideration for the goods… Read More »
Question : Today under VAT/CST merchant exporters can purchase goods without payment of tax on furnishing of a declaration form. Will this system be there in GST? Answer: No, there is no such provision in GST. Tax will be payable on their inward supplies and they can claim refund of the accumulated ITC. Related GST… Read More »
Question : Will the principle of unjust enrichment apply to exports? Answer: The principle of unjust enrichment is not applicable in case of exports of goods or services as the recipient is located outside the taxable territory. Related GST FAQ GST on Handicraft Sector : FAQ 150 GST FAQ’s Replied by Govt of India GST… Read More »
Question : What is the time limit for grant of refund? Answer: Refundable amount shall be sanctioned within 60 days from the date of receipt of application complete in all respects. However, as a measure of facilitation to exporters, except for certain notified categories, ninety per cent of the amount excluding the amount of input… Read More »
Question : What is the procedure for claiming refund by exporters? Answer: Refund can be claimed by filing an application electronically in prescribed form along with required documents through the Common Portal, either directly or through a Facilitation Centre notified by the Commissioner. The refundable amount shall be electronically credited to any of the bank… Read More »
Question : Can unutilized input tax credit be allowed as refund to exporters? Answer: Yes. Section 54(3) of the CGST Act, 2017 provides for refund of any unutilised input tax credit of inputs and input services at the end of any tax period except where (i) the goods exported out of India are subjected to export… Read More »