Goods and Services Tax – GST – By: – Praveen Nair – Dated:- 25-4-2018 Last Replied Date:- 23-10-2018 – MERCHANT EXPORT PROCEDURE IN GST: Notification No.: 40/2017-CENTRAL TAX (RATE), DATED 23.10.2017 (Similar Notification issued has been issued in UTGST, SGST & IGST Act, effective dated 23.10.2017) ||Whatever has been discussed hereinbelow, with reference to the Notification No., 40/2017-Central Tax (Rate), dated 23.10.2017, is fully applicable to the Registered Supplier and the Registered Recipient-Exporter (Merchant Exporter), covered under the Notification No., 41/2017-Integrated Tax (Rate), dated 23.10.2017, IGST Act, 2017 and Notification No., 40/2017-Union Territory Tax (Rate), dated 23.10.2017, UTGST Act, 2017. The Central Tax Notification No., 40/2017-Central Tax (Rate), dated 23.10.2017, is also applicable, under the SGST Act, 2017.|| The Concessional Tax Rate of Inter State Transaction or Supply of Goods, under the said Notification, is 0.1% for IGST | The Concessional T
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d by the Merchant Exporter, to the Jurisdictional GST Officer of the Registered Supplier. The Registered Supplier, shall supply the Taxable Goods, to the Merchant Exporter, by charging CGST, at the fixed Rate of 0.05% and SGST/UTGST, at the fixed Rate of 0.05%, in case of Intra-State Supply or Transaction of such Taxable Goods and 0.1% IGST, in case of Inter State Transaction, by covering the Supply, under the Tax Invoice, to be issued by the Registered Supplier, under Rule 46 of the CGST Rules, 2017. Except the above, no other Tax, under the GST Law, is payable on Taxable Goods, involved in the aforestated Transactions. The Registered Recipient-Exporter, who is situated in the same State or Union Territory, shall export the Taxable Goods, within the period of 90 days, from the date of Invoice of the Registered Supplier. If, the Merchant Exporter, fails to export the said Taxable Goods, within the period of 90 days, from the date of Tax Invoice of the Registered Supplier, the Registere
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here, the said Taxable Goods, would be sent to the Port of Export. Different Consignments covered under different Tax Invoices, can be combined together for shipment at the Registered Warehouse. If, Taxable Goods are initially stored in Registered Warehouse, the Merchant Exporter, will obtain an acknowledgement, from the Warehouse Operator and send a copy of the said acknowledgement, along with a copy of Tax Invoice, duly endorsed by him, for receipt of the Goods to; The Registered Supplier & The Jurisdictional GST Officer of the said Registered Supplier. A copy of Shipping Bill or Airway Bill or Bill of Export, would be self-attested and supplied by the Merchant Exporter, to the Registered Supplier, with Proof of Export General Manifest. The said Documents would also be sent by the Merchant Exporter, to the Jurisdictional GST Officer of the Registered Supplier. The Merchant Exporter, will have to incorporate GSTIN of the Registered Supplier, along with Tax Invoice No., & Date
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, IGST, at appropriate rate, can be paid on the Taxable Goods, with a Claim for Rebate of such Tax. It should also be noted that once this Procedure is opted for, by a Registered Supplier, it is not necessary that all Export Consignments, must be supplied under this Procedure – Reply By ANANTH KUMAR – The Reply = In para 15 of this Article, it has been stated that the merchant exporter cannot avail the input tax credit 0.05%/0.1% and it would be a cost to him. In this regard, reference is drawn to para 13.2 of GST Circular No.37/11/2018 dated 15.03.2018, wherein it has been clarified that the merchant exporter will be eligible to take credit of the tax @ 0.05%/0.1% paid by him. K.G Subramanian – Reply By Praveen Nair – The Reply = Thankyou for the update Mr. Ananth Kumar. Please consider amendmend to this article in Para 15. Vide GST Circular No.37/11/2018 dated 15.03.2018, merchant exporter will be eligible to take credit of the tax @ 0.05%/0.1% paid by him. – Reply By Akshita Mehta –
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