TMI BlogSubject:- Refund of IGST paid on export of goods under Rule 96 of CGST Rules, 2017–Reg.X X X X Extracts X X X X X X X X Extracts X X X X ..... jor relief package for exporters. The Council was unanimous that it is in the national interest to take all possible measures to support the exporting community, which earns valuable foreign exchange and provides significant employment especially in the small and medium sector. The Council approved that by 10.10.2017 the refund of IGST paid on goods exported in July would begin to be paid and refunds for subsequent months would be handled expeditiously. In line with the government's commitment, CBEC has already issued suitable instructions to expeditiously disburse the refund of IGST paid on goods exported out of India. Also, with effect from 10th October, 2017, the refund is getting disbursed for the export of goods made in July 2017. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e transaction is being reported under GST Act and under Customs Act, the exporters may take care to ensure the details of invoice, such as Invoice number, IGST paid etc, under GSTR 1 and shipping bill match with each other. (iii) EGM Error Due to either mismatch in information furnished in Export General Manifest (EGM) vis- -vis shipping bill or non-filing of EGM in certain cases, the compliance of 'exported out of India' requirement in Rule 96 (2) of Central Goods and Services Tax (CGST) Rules, 2017 remained unfulfilled. It is also noticed that Gateway EGM in case of many ICD's Shipping Bills have been manually filed, due to which the system is unable to match the EGM details. Hence, it is to be ensured that all the sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ommon errors that hindered disbursal of IGST refunds in July are not repeated in subsequent months. 2. The GST council in its 22nd meeting has also approved the GST rate of 0.1% for supplies to merchant exporters and Notification No. 41/2017- Integrated Tax (Rate), Notification No. 40/2017- CGST (Rate) and Notification No. 40/2017 - UT GST (Rate), all dated 23rd October, 2017 have been issued to that effect. The said benefit is subject to the conditions mentioned in aforementioned notifications. The merchant exporters are advised to take following precautions to avail the benefit of the scheme: (i) The Name and GSTIN of the Registered Supplier should be provided against each item in Third Party details column of Shipping Bill. The GST ..... X X X X Extracts X X X X X X X X Extracts X X X X
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