Exports of Goods and Services

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Shipping Bills
Export Incentives
Sachin Jindal

Revised formats for Shipping Bill

Every exporter has to undergo and comply with certain administrative and compliance requirements at the time of export of goods from India to another country.  The requirements include submission of applications, acquire licenses, furnish certificates/ bonds, payment of taxes/ duties, valuation of goods etc. One of the critical and important ingredient in the whole process is the ‘Shipping Bill’. Shipping Bill is a statistical and documentary evidence of exporting goods from India, which also certified by the Customs authorities. The Shipping Bill is also an important document for other compliances and actions like realisation of export proceeds, application for tax

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Refund of ITC to Merchant Exporter
Exports of Goods and Services
Kapil Mittal

GST on supplies by Merchant Exporter and Refund to Merchant exporter

Recently CBIC has released clarification on how merchant exporter can claim refund of accumulated ITC where supplies has been mad by him taking benefits vide notification no. 40/2017-Central Tax (Rate), Dated: October 23, 2017 & Notification No. 41/2017-Integrated Tax (Rate), dated the 23rd October, 2017 GST on supplies by Merchant Exporter Central Board of Indirect Taxes (“CBIC” or “Department”) has exempted supplies to merchant exporters from Goods and Service Tax (“GST”) leviable in excess of 0.10% vide notification no. 40/2017-Central Tax (Rate), Dated: October 23, 2017 & Notification No. 41/2017-Integrated Tax (Rate), dated the 23rd October, 2017 subject to certain

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Updated Export Refund filling procedure under GST
Exports of Goods and Services
Kapil Mittal

Updated Export Refund filling procedure under GST

Introduction In order to facilitate a smooth flow of refund claims and disbursals, the Central Board of Indirect Taxes and Customs (‘CBIC’) has strived to implement a hassle-free refund process at every stage. In line with this objective, the GST Council, in its 31st meeting held on 22 December 2018 has rationalised and introduced several taxpayer friendly measures in the GST refund filing and claims process. In addition, several clarifications on procedural aspects of refund claims, jurisdiction, inverted duty structure, compensation claims, Input Tax Credits etc. have been issued which would bring in practical clarity on the process to be

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How to get Refund under GST

Introduction: Type of refund to exporters under GST Process of refund to exporter under GST Documents required for refund under GST Relevant dates for refund applications under GST for exports Various time lines for Export refunds Type of Refund to Exporters Under GST. As we know there are two options to exports under GST. Refund procedure for both the option is different. Option – 1 Exports made on payment of IGST System designated by custom shall process the claim for refund and amount shall be credited on bank account of applicant. No separate application is required as shipping bill itself

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