Important Points related to Export and Import from FAQs Released Recently

1. Goods and Services can be exported either on Payment of IGST which can be claimed as refund after the goods have been exported, or under Bond or LUT without payment of IGST 2. The Shipping Bill filed with the custom is treated as an application for refund of IGST and shall be deemed to have been filed after submission of export manifest and furnishing of a valid return in form GSTR-3 by the applicant. 3. Supplies made to SEZ can be made in the same manner as supplies made for export ie either on payment of IGST or under Bond/ LUT. Supplies to SEZ are treated inter state supply and therefore any person supplying to SEZ should be compulsory registered under GST 4. Export of goods to Nepal or Bhutan* will be treated Zero rated and all the benefits available to exported will apply to it also. But the condition of receiving the amount in Foreign Convertible exchange should be complied 5. EOU are like any other supplier under GST and all the provisions of GST will apply to it. But the benefit of BCD exemption on import will continue for EOU. Supplies from EOU are not exempted from GST except zero rated supplies like Export or Supply to SEZ 6. If an Exporter purchase goods from unregistered person* than exporter is required to Pay GST under Reverse Charge. 7. Commission received by Buying agent* is chargeable to GST as the place of supply of services is INDIA. 8. Duty Drawback Scheme* with certain modification will continue under GST. Drawback shall be available only of Customs duties on imported inputs and Central Excise Duty on items specified in 4th Schedule of central Excise Act. 9. If anyone Import Capital Goods using EPCG Authorization than only basic custom duty will be exempted on Import. The EPCG holder will have to pay IGST on Import of Capital Goods and can take ITC




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