TMI BlogGST and Licence/Authorisation/Invalidation issued by DGFT.X X X X Extracts X X X X X X X X Extracts X X X X ..... Dear Export Please suggest: Whether we would be able to import tax free raw material under advance authorisations issued by Jt.DGFT after implementation of GST Act ? Similarly, Whether we would be able to import tax free capital goods under EPCG authorisations issued by Jt.DGFT after implementation of GST Act ? Whether tax free procurment from domestic sources would be made under invalidati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on of Advance authorisation OR EPCG licences issued by Jt.DGFT after implementation of GST Act ? - Reply By MADAN RAHEJA - The Reply = Dear Sir, As yet only Constitutional amendment bill has been passed by Rajya Sabha and main laws/rules/proceedure relating to GST are yet to be formulate. Although, not major changes in respect of export promotion schemes are expected, yet let us wait for GST law ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be formulated. - Reply By KASTURI SETHI - The Reply = Sh. Narendra Soni Ji, The present sops/benefits/facilities likely to be continued. Customs Act would be out of GST. - Reply By Ganeshan Kalyani - The Reply = Sir, just to add to the reply given by my colleague experts. Sir, presently under VAT /CST, interstate transaction - if stock transfer then no ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x is charged when supported by Form F and - if Sale then 2% or less when supported by Form C . This scheme is going to vanish under GST. Under GST even on Interstate Branch Tranfer of goods IGST shall have to be paid, though credit shall be given. Recently, I was going through VAT Circular of Chhattisgarh State where a scheme of Entry Tax exemption was given. A condition was given in the bot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tom line mentioning that 'the benefit shall be continue to be eligible till the date of implementation of GST. In both the above instances it seems that the benefit under present tax regime may be there in GST. (This is my personal views only). The main purpose of GST is seemless credit by levy tax on supply of goods/service. Thus such all things are mystery as of today. Thanks. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... - Reply By MUKUND THAKKAR - The Reply = Narendra Soni Ji, Advance Authorisation /EPCG authorisation is issued by MOC and GST will be handle by MOF . so donot worry about any export related benifit which you have taken at present. - Reply By Ganeshan Kalyani - The Reply = Sir, I was referring to CVD and SAD in import/export. Thanks. - Reply By YAGAY AND SUN - The Reply = Dear Mr. Soni, Pl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ease refer following press release by digging out from FIEO's Website. Press Releases CONCERNS OF THE EXPORTS SECTOR IN THE GST REGIME: FIEO FIEO/PUB/PR /29/16 August 30, 2016 CONCERNS OF THE EXPORTS SECTOR IN THE GST REGIME - PUT FORWARD BY FIEO IN THE MEETING OF EMPOWERED COMMITTEE OF STATE FINANCE MINISTERS ON GST - Reply By Ganeshan Kalyani - The Reply = Sir, thanks for sharing the upd ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ate. Lot of discussions are going on and are to take place. But only after GST Council is set up a conclusion is expected to come. Thanks. - Reply By Govind Gupta - The Reply = is there any clarity on this query now - GST and Licence/Authorisation/Invalidation issued by DGFT. - Query Started By: - Narendra Soni Dated:- 5-8-2016 Goods and Services Tax - GST - Got 8 Replies - GST - Discussion F ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... orum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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