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IGST Exemption on Export freight after 01.10.2022, Goods and Services Tax - GST
|IGST Exemption on Export freight after 01.10.2022|
Exemption from IGST on export freight for transportation of goods by vessel or aircraft from customs station of clearance in India to a place outside India is available until 30.09.2022 vide Notn. No. 07/2021 - IGST (Rate). Parent Notification is 09/2017 IGST Rate and not 02/2018 amended from time to time.
My question is there any notification issued by the GST council extending the exemption for a further period beyond 30.09.2022?
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The situation is fluid. We can expect notification at any time. Earlier also there was a delay.
No further extension for exemption has been granted. So w.e.f. 1.10.22, GST @5% is applicable on export ocean freight and related freight components.
Transport by aircraft 18%.
Where an exempt supply has become taxable, there is eligibility of credit on inputs and capital goods as per section 18(1)(d)
(d) where an exempt supply of goods or services or both by a registered person becomes a taxable supply, such person shall be entitled to take credit of input tax in respect of inputs held in stock and inputs contained in semi-finished or finished goods held in stock relatable to such exempt supply and on capital goods exclusively used for such exempt supply on the day immediately preceding the date from which such supply becomes taxable:
Shri. Kasturi Sir, and Smt. Shilpi Jain Mam
Thank you so much for your valuable information.
In continuation of the GST on export freight implemented from 1st Oct 2022:
I wish to have clarity if GST on export freight is to billed to overseas agent/customer.
In our case Bill is on Indian Shipper
You can bill the GST to the overseas customer and this is not a matter governed by the Indian GST laws. It is based on the terms of the contract between you and the customer, whether you will be able to recover from the customer or not.