Central Board of Excise and Customs has notified certain supplies as deemed exports

Central Board of Excise and Customs has notified certain supplies as deemed exports

October 24, 2017 FISCAL, GST 0

Central Board of Excise and Customs(CBEC) has issued a series of Notification No. 47/2017, 48/2017 ,49/2017 – Central Taxes dated 18/10/2017 and has notified certain supplies as deemed exports and notify the evidences required to be produced by the supplier of deemed export supplies for claiming refund and has also amended the CGST Rule, 2017

Key Highlights of the notifications are –

  • Following supplies of goods should be treated as deemed exports –
  1. Supply of goods by a registered person against Advance Authorisation
  2. Supply of capital goods by a registered person against Export Promotion Capital Goods Authorisation
  3. Supply of goods by a registered person to Export Oriented Unit
  4. Supply of gold by a bank or Public Sector Undertaking specified in the Notification No. 50/2017-Customs, dated the 30th June, 2017 (as amended) against Advance Authorisation.
  • The application for refund for such deemed exports can be made either by the recipient of deemed exports or by the supplier of deemed exports provided that the recipient of such supply does not claim input tax credit on such supplies and furnishes an undertaking to the effect that the supplier may claim the refund.
  • Statement 2 and 4 of FORM GST RFD-01 have been substituted
  • Following list of documents will be required to be furnished by the supplier of deemed exports for claiming refund: –
  • Acknowledgment by the jurisdictional Tax officer of the Advance Authorisation holder or Export Promotion Capital Goods Authorisation holder, as the case may be, that the said deemed export supplies have been received by the said Advance Authorisation or Export Promotion Capital Goods Authorisation holder, or a copy of the tax invoice under which such supplies have been made by the supplier, duly signed by the recipient Export Oriented Unit that said deemed export supplies have been received by it.
  • An undertaking by the recipient of deemed export supplies that no input tax credit on such supplies has been availed of by him.
  • An undertaking by the recipient of deemed export supplies that he shall not claim the refund in respect of such supplies and the supplier may claim the refund.

SourceCentral Board of Excise & Customs

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