INDIAN CUSTOMS

An impetus to export and import under GST.

  • Exports and supplies to SEZ unit / SEZ developer are treated as zero-rated supplies.
  • Exporters may opt to pay IGST on outward supply and claim its refund.
  • Alternatively exporters can export under bond or LUT (without payment of tax) and claim refund of accumulated Input Tax Credit (ITC).
  • Import of goods and services are treated as inter-State supplies and subjected to IGST (in addition to Customs Duties).
  • IGST paid on imports is available as ITC.

More Under Goods and Services Tax

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