My query is for a proprietor dealing with medicines. He wants to export medicines, based in mumbai. He have IEC, want to know if need to register in SEZ to get income tax benefit of taxation exemption of profit?? Since 80HHC is abolished what are the options? kindly advise.
Under the GST law export is ZERO rated supply . you can export medicines with paying IGST then refund or you can submit LUT/ BOND ( check what is applicable ) . If you are having GSTN no check out on GSTN portal .
Read section 16 of the IGST act 2017
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