Goods and Services Tax – GST – By: – Mr. M. GOVINDARAJAN – Dated:- 10-11-2017 – Deemed Exports Section 147 of Central Goods and Services Tax Act, 2017 ( Act for short) provides that the Government may, on the recommendations of the Council, notify certain supplies of goods as deemed exports, where goods do not leave India and payment for such supplies is received either in Indian rupees or in convertible foreign exchange, if such goods are manufactured in India. Decision of GST Council In the 22nd meeting of GST Council, held on 06.10.2017 at New Delhi decided to resolve certain difficulties being faced by exporters in the post GST regime, the Council decided that the supplies of goods by a registered person to EOUs etc., would be treated as deemed exports under section 147 of the Act. The refund of tax paid on such supplies can be claimed either by the recipient or supplier of such supplies. Notification The Central Government accepted the recommendations of the GST Council as above
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for the third proviso to Rule 89 (1). The new proviso provides that in respect of supplies regarded as deemed exports, the application may be filed by- the recipient of deemed export supplies; or the supplier of deemed export supplies in cases where the recipient does not avail of input tax credit on such supplies and furnishes an undertaking to the effect that the supplier may claim the refund. Procedure and safeguards Circular No. 14/14/2017-GST, dated 06th November, 2017 issued by the GST Policy wing prescribes the procedure and safeguards for supplies to EOU in terms of Notification NO. 48/2017, which is as follows- The recipient EOU unit shall give prior intimation in Form A bearing a running serial number containing the goods to be procured, as pre-approved by the Development Commissioner and the details of the supplier before such deemed export supplies are made; The said information shall be given to- the registered supplier; the jurisdictional GST Officer in charge of such re
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f registered person; Details of supplies received- Description; Value; Quantity; Amount of GST paid by supplier- Central Tax; State Tax/Union Territory Tax; Integrated Tax; Cess Date of endorsed copy of tax invoice by EOU; Removal for processing- Date and time of removal; Quantity Value Remarks (The goods removed for processing shall be accounted in a manner that enables the verification of input-output norms, extent of waste, scrap generated etc.,) Other removals/Returns Purpose of removal; Date & Time; Quantity Value Balance in stock Quantity Value The software for maintenance of digital records shall incorporate the feature of audit trail; The data elements in Form B are mandatory; however the recipient unit will be free to add or continue with any additional data fields, as per their commercial requirements; All recipient units are required to enter data accurately and immediately upon the goods being received in, utilized by or removed from the said unit; The digital records s
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