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GST SECTORAL SERIES - FAQ: Handicrafts

Goods and Services Tax - GST - Dated:- 1-8-2017 - Question 1: How will imports be taxed under GST? Answer: All imports will be deemed as inter-State supplies for the purposes of levy of GST. IGST is leviable on imports in addition to other duties of customs. Full set-off will be available as ITC of the IGST paid on import on goods and services. Question 2: How will exports be treated under GST? Answer: All exports will be deemed as inter-State supplies. Exports of goods and services will be trea .....

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ITC of IGST is exhausted, the ITC of CGST shall be used; If ITC of both IGST and CGST are exhausted, ITC of SGST shall be used. - Remaining IGST liability shall be discharged in cash. GST System will ensure maintenance of this hierarchy for payment of IGST using the credit. • However, IGST on imports has to be paid in cash only. Question 4: What are the provisions for refund of taxes for exporters in GST Answer: Provisions relating to refund are contained in section 54 of the CGST Act, 201 .....

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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 duty; or (ii) the exporter claims drawback of CGST or refund of IGST paid on such export. Question 6: 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 Facilit .....

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n-charge of the conveyance carrying the goods to be exported has furnished an export manifest/report. Upon receipt of information regarding furnishing of a valid return in FORM GSTR-3 or FORM GSTR-3B by the exporter from the Common Portal, the Customs authorities at the port of export shall process the claim for refund and an amount equal to the integrated tax paid in respect of each shipping bill shall be electronically credited to the bank account of the exporter. Question 7: What is the time .....

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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. Question 9: 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. Question 10: Whether goods sent by a taxa .....

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) bring back such inputs or capital goods after completion of job work or otherwise within the prescribed period i.e. 1 year in case of inputs and 3 years in case of capital goods, or (ii) supply such inputs or capital goods, within such prescribed period, on payment of tax within India, or with or without payment of tax for export, as the case may be. If the goods or, capital goods, as the case may be, are not returned to the principal within the time specified above, the same shall be deemed t .....

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on 12: 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 same or claim refund in accordance with the provisions of the CGST Act, 2017 and rules made thereunder. Question 13: Can duty credit scrips received as incentive by exporters .....

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e. In GST regime, drawback will be admissible only at lower rate determined on the basis of customs duties paid on imported materials used in the manufacture of export goods. However, as an export facilitation measure, for the transition period of 3 months from July to September, 2017, drawback at higher composite rates will continue to be granted subject to the condition that no input tax credit of CGST/IGST is claimed, no refund of IGST paid on export goods is claimed and no CENVAT credit is c .....

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