What you need to know for exporting under GST: EximGuru.com What you need to know for exporting under GST GSTIN/PAN and Invoice information in shipping billQuoting GSTIN in shipping bill is mandatory, if the export product attracts GST for domestic clearance.Quoting PAN (Permanent Account Number), which is authorized as Import Export code by DGFT, would suffice if the exporter exclusively deals with products which are either wholly exempt from GST or out of GST regime.In case of exports by specialized agencies such as United Nations Organization or notified Multilateral Financial Institutions, Embassies and Consulates, the exporter can quote Unique Identity Number, instead of GSTIN, in the shipping bill.Without GSTIN or PAN or UIN, the Shippigng bill cannot be filed.The claim for refund of IGST paid or Input Tax Credit on inputs consumed in goods exported cannot be processed without GSTIN and GST Invoice details in shipping bill.Commercial Invoice information should be provided in the shipping bill. Wherever Commercial Invoice is different from Tax Invoice, details of both have to be provided in the shipping bill.Taxable value and Tax amount should be mentioned against each item in the shipping bill for processing the refund amount. Multiple tax invoices issued by same GSTIN holder are allowed in one shipping bill for the same consignee.State code is part of GSTIN numbering scheme. However, in the shipping bill for the field “State of origin” declare the State code from where export goods originated as it was being done before.Bond or LUT along with shipping billAs per rule 96A of the Central Goods and Services Tax Rules, 2017, any registered person exporting goods without payment of integrated tax is required to furnish a bond or a Undertaking (LUT) in FORM GST RFD-11.The following registered person shall be eligible for submission of Letter of Undertaking in place of a bond:- (a) a status holder as specified in the Foreign Trade Policy 2015-2020; or (b) who has received the due foreign inward remittances amounting to a minimum of 10% of the export turnover, which should not be less than one crore rupees, in the preceding financial year, and he has not been prosecuted for any offence under the Central Goods and Services Tax Act, 2017 (12 of 2017) or under any of the existing laws in case where the amount of tax evaded exceeds two hundred and fifty lakh rupees (Notification No. 16/2017 – Central Tax dated 07th July, 2017 refers).The bond shall be furnished on non-judicial stamp paper of the value ad applicable in the State in which bond is being furnished.The exporters shall furnish a running bond, in case he is required to furnish a bond, in FORM GST RFD-11. The bond would cover the amount of tax involved in the export based on estimated tax liability as assessed by the exporter himself.Based on the track record of exporter, a bank guarantee to be submitted along with the bond may be waived off by the jurisdictional GST Commissioner. The bank guarantee should normally not exceed 15% of the bond amount (Circular No. 4/4/2017-GST dated 07th July, 2017 refers). DrawbackDuring the transition period of three months i.e. 1.7.2017 to 30.9.207, composite rates of All Industry Rate (AIR) drawback are available to exporter.These composite rates are subject to certain conditions during the transition period that input credit/refund under GST and drawback of composite rates notified are not taken together for the export product.Exporter has to produce a certificate to the above effect from jurisdictional GST officer to avail composite rate. This requirement is applicable to supplies for export made on or after 1.7.2017, as all exporters are required to operate under GST from that date.The requirement of certificate is not a new requirement. All registered persons who were exporting under bond or on claim for rebate were producing such certificate prior to 1.7.2017 also.In case export goods have been cleared from the factory or warehouse etc. Prior to 1.7.2017 but let export order has not been given till 30.6.207, certificate from GST officer is not required. For such goods, only a declaration from exporter or certificate from the then Central Excise officer, as applicable, is required.In case exporter is unable to produce the requisite certificate for claiming composing AIR at the time of export, then exporter should have the shipping bill amended to claim lower AIR (Customs Portion) at time export. The exporter can claim balance amount of drawback as supplementary claim when he produces certificate.Instructions issued to all jurisdictional authorities to ensure smooth clearance of export consignments. Latest Import Export News DateSubject 19-02-2019Nestle India plans up to 3-dozen product launches in 2019, eyes high exports 19-02-2019Will cut off trade ties with Pak, say industry assns 19-02-2019Opinion | Dismal export growth and rising imports point to a deeper malaise 19-02-2019Government needs to focus on man-made textiles, must increase duty on its imports: CITI 19-02-2019Steel imports: India should follow EU way of definitive safeguard measures 18-02-201984-acre land in Choksi-owned Nashik SEZ attached 18-02-2019India to curb tea exports to Pak 18-02-2019Cashew may firm up as exports, local demand expected to rise 18-02-2019Cement, fruit shipments from Pakistan among 10 most hit imports after duty hike 18-02-2019Gold imports dip 5% to this much amount during April-January FY 2019
Get Sample Now Which service(s) are you interested in? Export Data Import Data Both Buyers Suppliers Both OR Exim Help + Exim News Date: 19-02-2019 Nestle India plans up to 3-dozen product launches in 2019, eyes high exports Date: 19-02-2019 Will cut off trade ties with Pak, say industry assns Date: 19-02-2019 Opinion | Dismal export growth and rising imports point to a deeper malaise Date: 19-02-2019 Government needs to focus on man-made textiles, must increase duty on its imports: CITI Date: 19-02-2019 Steel imports: India should follow EU way of definitive safeguard measures Date: 18-02-2019 84-acre land in Choksi-owned Nashik SEZ attached Date: 18-02-2019 India to curb tea exports to Pak Date: 18-02-2019 Cashew may firm up as exports, local demand expected to rise Date: 18-02-2019 Cement, fruit shipments from Pakistan among 10 most hit imports after duty hike Date: 18-02-2019 Gold imports dip 5% to this much amount during April-January FY 2019 What is New? Date: 16-02-2019 Notification No.05/2019-Customs seeks to insert tariff item 9806 00 00 in chapter 98 of the First schedule to Customs tariff act, 1975 to impose basic customs duty of 200% on all goods originating in or exported from Pakistan. Date: 15-02-2019 Notification No. 10/2019-CUSTOMS (N.T.) Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg. Date: 15-02-2019 Notification No.11/2019 - Customs (N.T.) Exchange Rates Notification No.11/2019-Custom(NT) dated 15.02.2019. Date: 08-02-2019 Notification No. 8/2019 – Central Tax Seeks to extend the due date for furnishing of FORM GSTR – 7 for the month of January, 2019 till 28.02.2019 Date: 07-02-2019 Notification No.09/2019 - Customs (N.T.) Exchange Rates Notification No.09/2019-Custom(NT) dated 07.02.2019. Date: 07-02-2019 Notification No. 4 /2019- Customs Seeks to further amend Notification No. 08/2016- customs dated the 5th February 2016 to allow temporary importation of aircrafts, for the purposes of participation in Aero Show organised by the Central Government, without furnishing a bank guarantee or cash deposit. Date: 06-02-2019 Notification No. 08/2019 - Customs (N.T.) Amendment of CBLR 2018 Date: 04-02-2019 Notification No. 2/2019- Integrated Tax (Rate) Seeks to rescind Sl. No. 10D of Notification No. 09/2017-Integrated Tax (Rate) dated 28.06.2017 in relation to exemption of IGST on supply of services having place of supply in Nepal or Bhutan, against payment in Indian Rupees. Date: 01-02-2019 Notification No. 4/2019-Customs (N.T./CAA/DRI) Appointment of Common Adjudicating Authority by DGRI-reg. Date: 31-01-2019 Notification No. 07/2019 – Central Tax Seeks to extend the due date for furnishing of FORM GSTR – 7 for the months of October, 2018 to December, 2018 till 28.02.2019.
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