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TMI BlogGST roll out and preparation thereof -regardingX X X X Extracts X X X X X X X X Extracts X X X X ..... ds is contingent upon filing of (a) shipping bill accompanied by the GST invoice and (b) export general manifest. Changes in Customs law and procedures are accompanied by the changes in the EDI system so as to effectively implement the IGST law from 01.07.2017. The changes are broadly in the following areas: • Levy of duties - IGST and Compensation Cess (wherever applicable) to be levied on imports. • Change in Bill of Entry and Shipping Bill forms - To capture additional details required for validation with GSTN in case of IGST refund claims (export) or availability of IGST credit (imports). • Procedure in respect of manual filing of Bills of Entry and Shipping Bills - To electronically capture basic data required for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r than those on which Central Excise Duty/VAT continues to be levied even in the new regime. In this regard necessary amendments have been made in section 3 of the Customs Tariff Act, 1975 vide the Taxation Laws (Amendment) Act, 2017 (18 of 2017) dated the 4th May , 2017 wherein under the sub-section (7), sub-section (8), sub-section (9) & sub-section (10) of section 3 of the Customs Tariff Act, 1975, it has been provided as below: (7) Any article which is imported into India shall, in addition, be liable to integrated tax at such rate, not exceeding forty per cent., as is leviable under section 5 of the Integrated Goods and Services Tax Act, 2017 on a like article on its supply in India, on the value of the imported article as determined ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n section 14 of the Customs Act, 1962, be the aggregate of- (a) the value of the imported article determined under sub-section(1) of section 14 of the Customs Act, 1962 or the Tariff value of such article fixed under sub-section(2) of that section , as the case may be: and (b) any duty of customs chargeable on that article under section 12 of the Customs Act 1962 and any sum chargeable on that article under any law for the time being in force as an addition to and in the same manner as, duty of customs, but does not include the tax referred to in sub-section (7) or the cess referred to in sub-section (9). Changes in Bill of Entry and Shipping Bill Forms: 3. Since new provisions for levy of IGST and GST compensation cess on imports hav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 09/2018 dated 12.06.2017 wherein it has been indicated that with regard to importer/exporter registered with GSTIN, PAN, State code etc. of the importer. Similar changes will also be incorporated for imports at SEZ and imports through Courier. In case of Courier, GSTIN for GST registered consignees or PAN for non-GST registered consignees as applicable, has to be quoted in the bill of entry filed by the Courier agency, wherever goods are subject to IGST. For the time being, importers/exporters are advised to declare GSTIN, PAN and IEC while filing document for import/export of goods. However, over a period of time, declaration with regard to only GSTIN and PAN shall be required in the Bill of Entry. 5. For calculating the IGST or Compe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rvices or both, subject to such conditions, safeguards and procedure as may be prescribed, on payment of integrated tax and claim refund of such tax paid on goods or services or both supplied. 7. Under the GST Laws, tax payers would be filing their outward supply returns on GSTN for all the supplies made by them including exports. For the exports, they will be required to quote the Shipping Bill and export invoice details in the GST return. The information provided in the return with regard to export of goods shall be validated by Customs EDI system. The confirmation of the export details by Customs shall be made once the EGM is filed. The tax payer (exporter) shall be granted refund of the IGST paid by him on the exported goods based on t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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