Purchase of materials at 0.1% tax for export purpose

Import / Export 436 views 4 replies
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Accountant
380 Points Joined January 2013

Hi All,

Can anyone suggest me with regard to Notification No. 41/2017--Integrated Tax (Rate), New Delhi 23rd October 2017.

With regard to the above notification for exporters, can we purchase material at 0.1% Tax from the suppliers. If yes, what are the basic rules to be followed.

But, if you see in GST website, there is no option for the supplier to upload his Sales at 0.1% Tax rate. When will this option be implemented.

Thanks

Sridevi

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On 08 November 2017 at 12:00 Report
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ACC MGR
204 Points Joined July 2011
Yes but only upon fulfillment of prescribed conditions in notification
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On 08 November 2017 at 13:32
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Accountant
380 Points Joined January 2013

Hi Amol, 

But, what about my second doubt about returns filing. (But, if you see in GST website, there is no option for the supplier to upload his Sales at 0.1% Tax rate. When will this option be implemented).

Regards

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On 08 November 2017 at 13:41
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ACC MGR
204 Points Joined July 2011
These are initial stages Sridevi, if govt has issued notification they surely will provide required facilities on portal too, will have to wait till
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On 08 November 2017 at 14:37
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Accountant
380 Points Joined January 2013

Hi Amol,

Thanks for the reply, if I am right, Interstate purchase i.e., IGST purchase is 0.1% and Local purchase i.e., CGST at 0.05% and SGST at 0.05%.

The above calculation is correct?

Regards

Sridevi

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On 11 November 2017 at 17:21


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