Now, the Central Government has come up with a scheme and methodology for grant of disbursal of IGST/CGST/SGST/UTGST paid by the manufacturing units in the areas earlier which were enjoying full exemption from payment of central excise duty.
Section 9(4) of the CGST Act, 2017 requires payment of Central Tax in respect of supply of taxable goods or services or both by a supplier, who is not registered, to a registered person shall be paid by such person on reverse charge basis as the recipient. The statutory provision of Section 9(4) of the CGST Act, 2017 is reproduced below:-
REFUND OF ACCUMULATED CREDIT IS NOT ADMISSIBLE- Section 54(3) of the Central Goods and Service Tax Act, 2017 laid down the provision for claiming refund of unutilized input tax credit at the end of the tax period. The aforesaid provision is reproduced below for easy reference:
Section 16 of the Central Goods and Service Tax Act, 2007 allows the credit of input tax charged on any supply of goods or services or both to a registered person which are used or intended to be used in the course or furtherance of his business.
CBEC Board has laid down simplified procedure for stuffing and self- sealing of export goods in containers. By prescribing this procedure, the CBEC Board has done away with the sealing of containers of export goods by the departmental officers.
