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Goods and Service Tax - Export of Goods & Services

Goods and Services Tax - GST - By: - CS SANJAY MALHOTRA - Dated:- 17-9-2016 Last Replied Date:- 17-9-2016 - Goods and Service Tax - Export of Goods GST is not the change in Tax Structure but would result in Business Transformation. One would definitely witness the Growth in Exports with the introduction of GST. Taxes and Duties are never exported and have to be neutralised to the Exporter by way of refund or drawback so that the same may not add to the cost of goods and exports remain competitiv .....

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exporter or manufacturer on behalf of another exporter and export documents i.e. Shipping Bills shall indicate the name of both Manufacturing Exporter / Merchant Exporter. The basic principle lying behind GST is to do away with the exemptions so that the Tax Base shall be widened thus resulting in Reduction in GST Rates. Exports in GST Regime Exports are Zero Rated in the present Excise, Service Tax, VAT Acts and shall continue to be zero rated in the GST Act. Zero Rated supply under GST is def .....

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efund Section 38(1) of Model GST Law 2016 provides that the exporter claiming refund has to file application for claiming refund with TWO YEARS from the Relevant Date (defined at the end of article) Refund under GST In the present Central Excise Act, exporter of goods procure Duty Free material against CT-1, CT-3, Concessional Duty Certificates and export the goods without payment of duty under Bond. In GST Regime, all forms i.e. CT-1, CT-3 shall be done away with and the goods have to be purcha .....

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t State VAT is not eligible as refund by way of REBATE as applicable to Central Excise. VAT paid on inputs used in the manufacture of Export goods is available as refund subject to submission of evidence of exports of goods. VAT claim is disbursed on the basis of proportionate input tax credit used in the exported goods or if exporter maintains SION (Standard Input Norms) then on the basis of same. In the GST Regime, Exports are treated as Inter-State Supply and accordingly IGST can be levied an .....

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el GST law provides for Refund of unutilised accumulated on account of Exports, except on goods which are subject to Export Duty. Rule 38(4)(a) provides for refund of 80% to taxable person within the time specified and terms and conditions to be defined in GST Rules to be framed and balance 20% to be released after due verification of all the export documents. In any case the refund has to be processed within a maximum period of 90 days. Refund on Export of Goods / Services is available to the E .....

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. supplier of goods / receiver of goods to claim back refund from Centre / State Govt. as the case may be. Refund can be claimed by supplier if furnishes evidence to GST officer that the IGST has not been collected from the recipient. Supplies to EOU / sectors defined above on payment of duties in GST regime would impact financial outflow as the supplier may have to shell out amount of IGST in cash(where CENVAT is not available) and refund of same will be granted afterwards by the Central / Stat .....

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case of Movement by Road / Bank Realisation Certificate. Invoice wise sales data is to be uploaded online at the time of submission of Return for Outward supplies; GSTIN may establish linkage between ICEGATE, DGFT and GST returns to ensure sanction of valid export claims. E-BRC module for payment realisation in case of export of material as exists in the DGFT system can be verified online by GST officer for processing of claim. The same would reduce the transaction cost of Exporters and adds to .....

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if the goods are exported by post, the date of despatch of goods by Post Office concerned to a place outside India; (b) in the case of supply of goods regarded as deemed exports where a refund of tax paid is available in respect of the goods, the date on which the return relating to such deemed exports is filed; (c) in the case of goods returned for being remade, refined, reconditioned, or subjected to any other similar process in any place of business, the date of entry into the place of busine .....

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