As a result, the provisions of the IGST Act relating to the levy of tax on supplies of goods and services in the course of interstate trade or commerce would apply to imports, and Custom Duty on Imports and Exports will not be subsumed in GST.
Charges like safeguard duty, education cess, basic customs duty, anti-dumping duty, and so on will have no influence on commodity imports. GST will cover all of these additional customs taxes.
Exports are liable to both the Central and State GSTs under GST. GST paid on any movement of goods intended for export can, however, be fully repaid. Central excise duty, service tax, and supplementary duties are all included in the CGST, whilst value added tax and entry tax are included in the SGST (Octroi).
Exports of products or services are treated as zero-rated supplies. GST will not be charged on any goods or services exported. The tax paid on inputs for the export of exempted goods was eligible for a duty drawback under prior regulations.
GST is often not charged on products and services exported. If you're GST-registered, this indicates that the price of your exports does not contain GST. You can still claim GST credits on purchases used to create your exported products and services.
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Jay Vyas
5
This is just awesome course. I gained so much knowledge about Import-Export Business by learning this course.
LearnVern, you are doing an awesome job by teaching for free.
R
Ramesh Solanki
5
Awesome, I want to know about exim word during questionaire what it indicates ?
M
Md Sabbir Hasan
5
very Good
V
Vinod Kumar
5
VERY GOOG
V
Vinod Kumar
5
Logistic best course
A
Ayush
5
Thankyou
S
SACHIN
5
AWESOME
R
Rudra S
5
Excellent Tutor Kunal Sir has a lot of knowledge about the topic
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