GST Update – Export

GST Update – Export

Notification 40/2017-CT(R) and 41/2017-IT(R) dt. 23.10.17  prescribes GST rate of 0.1% on supply of taxable goods by a registered supplier to a registered recipient for export subject to specified conditions: Supply on Tax Invoice; Export within 90 days of tax invoice; Exporter should mention GSTIN and invoice no of supplier in shipping bill /bill of export; Exporter should give order for procurement at concessional rate […]

Read Me Leave comment

Exporters can claim refund this week for GST paid in Aug, Sept: GSTN CEO

Exporters can claim refund this week for GST paid in Aug, Sept: GSTN CEO

Exporters can soon start claiming refunds for GST paid in August and September as GSTN will this week launch an online application for processing of refund, its Chief Executive Officer Prakash Kumar said on Monday. GST Network (GSTN), the company handling IT infrastructure for the indirect tax regime, has from October 10 started issuing refunds to exporters for Integrated GST (IGST) they paid for the […]

Read Me Leave comment

GST rate structure needs some rejig

GST rate structure needs some rejig

  Hasmukh Adhia says “To reduce burden on small businesses needs some rejig in GST rate structure”. “There is need for some rejig in rates … it is possible that some items in the same chapter are divided. There is a need for harmonisation of items chapter wise, and wherever we find there is a big burden on small and medium businesses and on the […]

Read Me Leave comment