Query:
If a person imports gold and reprocessing is done in Maharashtra, subsequently 100% jewellery is exported to that country then whether GST is applicable or not?
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GST applicability
Replies (2)
Yes...
Exports are considered as inter state supplies in the new GST regime.Accordingly,Exports are done by the following two methods:
1.Export of goods with payment of GST-IGST is applicable on Export of goods and input tax on various purchases could be set off against the output tax and the balance could be claimed as refund from tax authorities.
2.Export of goods without payment of GST-This is popularly called zero rated exports.Application has to be made to the assistant commissioner of GST in form GST RFD-11 and LUT/bond has to be furnished for claiming zero rated exports.Commissioner after scrutiny of application gives his acceptance in writing and the LUT is valid for one year from the date of acceptance.the tax payer can make zero rated exports during the said one year period.the input tax on all purchases could be claimed as refund from tax authorities in case of zero rated supplies.
Exports are considered as inter state supplies in the new GST regime.Accordingly,Exports are done by the following two methods:
1.Export of goods with payment of GST-IGST is applicable on Export of goods and input tax on various purchases could be set off against the output tax and the balance could be claimed as refund from tax authorities.
2.Export of goods without payment of GST-This is popularly called zero rated exports.Application has to be made to the assistant commissioner of GST in form GST RFD-11 and LUT/bond has to be furnished for claiming zero rated exports.Commissioner after scrutiny of application gives his acceptance in writing and the LUT is valid for one year from the date of acceptance.the tax payer can make zero rated exports during the said one year period.the input tax on all purchases could be claimed as refund from tax authorities in case of zero rated supplies.
Agree to Raja Ji..
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