Hey freinds,
Wanted to confirm that H Forms are to be applied by Manufacturer-Exporter as well as Dealer-Exporter?
Also, in case of a Manufacturer expoerter can he claim exemption in relation to CST (or VAT) charged on inputs specifically used to manufacture Exported goods?
1. Form-H can be issued by an Exporter only when such goods are sold as it is. Purchases used in manufacture of goods for export are not eligible for exemption.
2. Credit can be availed of input tax paid on purchases used for manufacture of goods for exports. As far as Karnataka is concerned, there is no exemption on such purchases.
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CAclubindia
