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.