Some useful pointers and highlight of the notification (by Author)-
1- The notification is applicable only on GOODS which are being exported,
2- Only in case REG supplier to REG supplier AND such recipient SHOULD declare the purpose of such GOODS i.e. EXPORT only,
3- In such CASE INTRA -STATE supplies will be chargeable to 0.5% ONLY & IN CASE INTER- STATE supplies of such GOODS then 0.1% will be applied,
4- TAX Invoice MUST be issued by SUCH SUPPLIER (which means only taxable goods are covered herewith),
5- RECIPIENT of such goods MUST EXPORT within 90 DAYS from the date of TAX INVOICE (which means irrespective of time consumed in any other process),
6- While EXPORTING such goods, the RECIPIENT should mention the details about such purchase,
7- registered recipient shall be registered with an Export Promotion Council or a Commodity Board recognized by the Department of Commerce,
8- Order copy of such transaction must be submitted to Jurisdictional officer,
9- Such goods must be moved directly to PORT/ or place from where such goods are to be exported,
10- The above CONCESSIONAL RATE on GOODS is not available if RECIPIENT FAILS to export within 90 DAYS,
For reading full text of the notification please refer - http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-40-cgst-rate-english.pdf & http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-41-igst-rate-english.pdf
1- The notification is applicable only on GOODS which are being exported,
2- Only in case REG supplier to REG supplier AND such recipient SHOULD declare the purpose of such GOODS i.e. EXPORT only,
3- In such CASE INTRA -STATE supplies will be chargeable to 0.5% ONLY & IN CASE INTER- STATE supplies of such GOODS then 0.1% will be applied,
4- TAX Invoice MUST be issued by SUCH SUPPLIER (which means only taxable goods are covered herewith),
5- RECIPIENT of such goods MUST EXPORT within 90 DAYS from the date of TAX INVOICE (which means irrespective of time consumed in any other process),
6- While EXPORTING such goods, the RECIPIENT should mention the details about such purchase,
7- registered recipient shall be registered with an Export Promotion Council or a Commodity Board recognized by the Department of Commerce,
8- Order copy of such transaction must be submitted to Jurisdictional officer,
9- Such goods must be moved directly to PORT/ or place from where such goods are to be exported,
10- The above CONCESSIONAL RATE on GOODS is not available if RECIPIENT FAILS to export within 90 DAYS,
For reading full text of the notification please refer - http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-40-cgst-rate-english.pdf & http://www.cbec.gov.in/resources//htdocs-cbec/gst/notfctn-41-igst-rate-english.pdf
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