My client exports bananas. If he wants to purchase fixed assets for his business, will he get GST refund of fixed assets?
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Quick Summary
This discussion explores whether a business exporting bananas can claim a GST refund on purchased fixed assets. The general consensus is that GST refunds are typically only available for inputs and input services, not capital goods like fixed assets. However, it's suggested to investigate the Export Promotion Capital Goods (EPCG) scheme under the Foreign Trade Policy, particularly if fixed assets are imported, as this may offer an alternative route for eligible exporters.
Only inputs and input services are permitted so no refund on capital goods. Still you might check for the eligibility of EPCG schemes under FTP as you are engaged in export business and if your fixed assets are purchased from outside.
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