India continues to be a global powerhouse when it comes to export of goods and export of services. Indian businesses who export goods and services are considered as a zero-rated supply under goods and services tax (GST) - no GST is levied on such supplies. This implies that exporters aren...
Exporting Goods and Services under GST In order to avail the option of export without payment of IGST, the registered exporter is required to furnish a bond or Letter of Undertaking (LUT) prior to the export. The issuance of LUT validates the export process, establishing the export of goods ...
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EPCG scheme facilitates the imports of capital goods to produce goods and services by manufacturers. Under this scheme, exporters can partner with a manufacturer and import the required capital goods to produce export goods at 0% duty. This scheme also helps reduce the service exporter's capital ...
Import under EPCG after GST GST on imports by EOUs and SEZs Changes of operation of SEZ Does CVD exists under project imports? Baggage clearance after GST implementation Refund of SAD paid on imports How to claim ITC under imports? Procedures to claim Drawback after GST implantation ...
When exporting goods overseas, you’ll need to declare the goods to be exported to the Singapore Customs. Note that the Goods and Services Tax (GST) and duty fees are not imposed on these goods. Export Trade Procedure Steps The following export trade procedure steps are as listed and to be...
TDS under GST, Frequently Asked Questions Does Interest attract on GST Tax payment delay? Levy of late fee for GST Tax returns filing in India I pay Service Tax on my services. But I am not sure how do I pay the new GST? Notice to GST return filing defaulters ...
Value of items shipped in U.S. dollars (Must match the value indicated on the commercial invoice) Schedule B Number/HTS Code (This is a predetermined unique number for export) When required: Export License No./Symbol Receiver’s VAT/GST or shipper’s Employer Identification Number (EIN) Indi...
An exporter before the shipment of goods and services. The exporter must apply for LUT before the start of the financial year for which they wish to export. The benefits of export under LUT are extending to all registered persons who intend to supply goods/ services. IMPORT EXPORT CODE EXEMPT...
Refund under Section 74. Pending Duty Drawback from Customs. Factory stuffing– Self-sealing permission. [FSP] Pending IGST Refund from Customs. Removal of IEC from Alert list of Customs. GST Services – Refund of ITC from GST. Authorized Economic Operator (AEO T1, T2 & T3) certification. ...