TMI BlogGST — FAQ on Handicrafts dated 31-07-2017X X X X Extracts X X X X X X X X Extracts X X X X ..... nd claim refund of ITC or pay IGST by utilizing ITC or in cash at the time of export and claim refund of IGST paid. Question 3 : How can IGST be paid? Answer : The IGST can be paid by utilizing ITC to the extent available and balance by cash. The use of ITC for payment of IGST will be done in the following order : ITC of IGST shall be used for payment of IGST first; Once 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rticulars and as specified in the application for refund. For details Chapter X of the CGST Rules, 2017 relating to refund may be referred to. In case of refund of IGST, the shipping bill filed with the Customs is treated as an application for refund if the exporter has filed a valid return in Form GSTR-3/3B and the person in-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 electro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... registered taxable person (the principal), after following the prescribed procedure, may send any inputs or capital goods, without payment of GST, to a job worker for job work and the principal shall either (i) 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 to have been suppli ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Answer : No. There will be no difference in rate of Drawback for exporters not availing ITC in GST regime. 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 carried forward. Question 15 : Is GST payable on consideration received for sale of scrips? Answer : Yes. S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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