Export under GST Act
Query (Issue) Started By: – Narendra Soni Dated:- 5-8-2016 Last Reply Date:- 30-9-2016 Goods and Services Tax – GST
Got 10 Replies
GST
Dear Export,
\nPlease suggest
\nWhether export will be on payment of tax or without payment of tax under GST Act.
\nReply By MADAN RAHEJA:
\nThe Reply: Dear Sir, As yet only Constitutional amendment bill has been passed by Rajya Sabha and main laws\/rules\/proceedure relating to GST are yet to be formulated. Although, not major changes in respect of export promotion schemes are expected, yet let us wait for GST law to be formulated.
\nReply By KASTURI SETHI:
\nThe Reply:
\nSir,
\n Likely to be without payment of tax.However, export turnover would be accounted for arriving at threshold exemption limit of SSI unit. I also agree with the views of Sh.Madan Raheja, Sir as still it is not final. Any amendment can take place till the enactment.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nSir, I agree with the views submitted by Sri Madan Ji an<\/p>\n
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Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n ble. However, there is little confusion as Section 38 of the Model GST Law refers to refund of taxes on goods & services exported out of India. We require a clarification that the refund facility will be optional for the exporters on the same lines as exists under the Central Excise Act where the exporter has the option to clear the exports goods without payment of taxes or takes a refund of the duty paid by him. Those exporters who want exemption from GST on supply of goods \/services for exports will be entitled for the same. A reiteration of the same will remove the ambiguity in the matter. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n put tax credit shall be allowed in cases where the goods exported out of India are subjected to export duty. = = = = = = = =<\/p>\n Plain text (Extract) only<\/strong> = = = = = = = =<\/p>\n","protected":false},"excerpt":{"rendered":" Export under GST Act Query (Issue) Started By: – Narendra Soni Dated:- 5-8-2016 Last Reply Date:- 30-9-2016 Goods and Services Tax – GSTGot 10 RepliesGSTDear Export, Please suggest Whether export will be on payment of tax or without payment of tax under GST Act. Reply By MADAN RAHEJA: The Reply: Dear Sir, As yet only … Continue reading “Export under GST Act”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-899","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/899","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=899"}],"version-history":[{"count":0,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=\/wp\/v2\/posts\/899\/revisions"}],"wp:attachment":[{"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=899"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=899"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goodsandservicetax.in\/GST\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=899"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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\nIt may be mentioned here that section 38 Subsection 4(A) allows provision refund of 80% which may be increased to 90% as allowed presently for VAT in few States. Secondly, this 90% may be refunded within 10 days and the balance 10% within 30 days.
\nFurther, Provisio to section 38(3)(b) of the GST Act requires the exporter to file a certificate that the incidence of the tax claimed as refund has n<\/p>\n
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\nThanks.
\nReply By CS SANJAY MALHOTRA:
\nThe Reply:
\nDear Friends,
\nIn GST, Exports are Zero rated, which means that if tax is payable (IGST leviable on exports), the same will be claimed as refund from the department.Department has to come out with Rules under GST, wherein the provisions as to Export under Bond will also be taken care of. Wait and watch for same.
\nReply By Ganeshan Kalyani:
\nThe Reply:
\nSir, whether really the export under bond provision will form part of GST Law. If they say that first pay the tax and then get refund in such case it seems less possibility that such provision will be inserted. Thanks.
\nReply By CS SANJAY MALHOTRA:
\nThe Reply:
\nDear Friends,
\nIn continuation to my earlier response on Exports under Bond, please refer to the Draft Invoice Rules released recently by Board, wherein it is stated that Export Invoice to have mention of phrase "SUPPLY<\/p>\n
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