GST roll-out and preparation thereof
TRADE FACILITY NO. 05/2017 Dated:- 28-6-2017 Trade Notice
Customs
GOVERNMENT OF INDIA
MINISTRY OF FINANCE DEPARTMENT OF REVENUE
OFFICE OF THE COMMISSIONER OF CUSTOMS
CUSTOM HOUSE, WILLINGDON ISLAND, COCHIN-682009
F. No. C1/03/2016-TU. Cus.
Dated: 28.06.2017.
TRADE FACILITY NO. 05/2017
Subject: reg.
Kind attention of exporters, importers, Customs Brokers, Steamer Agents and all other stakeholders is drawn to the Ministry of Law and Justice (Legislative Department) Notification published in the Gazette of India, Extraordinary, Part-II, Section-I, vide No. 19 dated 05.05.2017 to notify the Taxation Laws (Amendment) Act, 2017 (No. 18 of 2017) [copy available at http://egazette.nic.in] and the 'Advisory on Customs related matters on Introduction of Goods and Service Tax regime' dated 20.06.2017 from the Special Secretary and Member, Central Board of Excise and Customs (CBEC) [copy available at www.cbec.gov.in].
2. Vide the abov
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hose on which Central Excise Duty/ VAT continues to be levied even in the new regime. The necessary amendments that have been made in Section 3 of the Customs Tariff Act, 1975 had been notified vide the Gazette Notification mentioned at para 1 above. In addition to the IGST, any article imported into India shall be liable to goods and services tax compensation cess, wherever applicable, at such rate tax under the Goods and Services Tax (Compensation to States) Cess Act, 2017. The value, as a percentage of which, the above mentioned tax is leviable is explained in the above mentioned notification. It is requested that the fine-print of Taxation Laws (Amendment) Act, 2017 is read by field officers in detail. Customs ICES 1.5 application is also being modified to ensure that the new levies are applied and collected on all the imports from 01.07.2017.
(iii) In light of the changes notified, Bill of Entry, Shipping Bill and Courier Regulations and forms, both Manual and EDI, have been sui
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oted in the Bill of Entry filed by the Courier agency, wherever goods are subject to IGST.
(vi) For calculating the IGST or Compensation Cess, chapter-wise, rate-wise GST schedule, IGST exemption, concession list and GST Compensation cess rates are available on the official website of CBEC. The importer shall quote the applicable levy notification's number and the exemption notification wherever applicable in respect of each imported item for application of the correct rate. The total IGST and Compensation cess paid will be published on every Bill of Entry which may be quoted to claim the corresponding credit in the GST return.
(vii) Under Section 16 of the Integrated Goods and Services Tax Act, 2017 export of goods shall be zero rated supply and credit of the input tax may be availed. The mode of making zero rated supply is explained in the said Section.
(viii) It is imperative that in the case of Manual Bill of Entry and Shipping Bill the requisite data for validation relat
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