DEEMED EXPORTS DEFINITION UNDER GOODS AND SERVICES TAX ACT 2017 IN INDIA
The Goods and Services Tax
Act, 2017 came into force with effect from 1.7.2017 in India.
The Government of India has
notified the following supplies of goods as deemed exports
1. Supply
of goods by a registered person against Advance Authorisation (an authorisation
issued by the Director General of
Foreign Trade under Chapter 4 of the Foreign Trade Policy 2015-20 for import or
domestic procurement of inputs on pre-import basis for physical exports).
2. Supply
of capital goods by a registered person against Export Promotion Capital Goods
Authorisation (Export Promotion Capital Goods Authorisation means an
authorisation issued by the Director General of Foreign Trade under Chapter 5
of the Foreign Trade Policy 201520 for import of capital goods for physical
exports)
3. Supply
of goods by a registered person to Export Oriented Unit (“Export Oriented Unit”
means an Export Oriented Unit or Electronic Hardware Technology Park Unit or
Software Technology Park Unit or Bio-Technology Park Unit approved in
accordance with the provisions of Chapter 6 of the Foreign Trade Policy 2015-20).
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 relevant notification is
given below for ready reference:
[TO BE PUBLISHED IN PART
II,
SECTION 3, SUB-SECTION (i) OF
THE GAZETTE OF INDIA,
EXTRAORDINARY]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
Department
of Revenue
CENTRAL BOARD
OF EXCISE AND CUSTOMS
Notification No. 48/2017-Central
Tax
New Delhi, the 18th October, 2017
G.S.R. (E).- In exercise
of the powers conferred by section
147 of the Central Goods and
Services Tax Act, 2017 (12 of 2017), the Central
Government, on the recommendations of the Council, hereby notifies the supplies of goods
listed in column (2) of
the Table below as deemed exports,
namely:-
Table
S.No.
|
Description of supply
|
(1)
|
(2)
|
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.
|
Explanation -
For the purposes of this notification, –
o
“Advance Authorisation” means an authorisation issued by the Director
General of Foreign Trade under Chapter 4 of the Foreign Trade Policy 2015-20 for import or
domestic procurement of inputs
on pre-import basis for physical exports.
o
Export Promotion Capital Goods Authorisation means an authorisation issued by the Director General of Foreign Trade under Chapter 5 of the Foreign Trade Policy
2015-20 for import of capital goods
for physical exports.
o
“Export Oriented Unit” means an Export Oriented Unit or Electronic Hardware Technology Park Unit or Software
Technology Park Unit or Bio-Technology Park Unit approved in accordance
with the provisions of Chapter 6
of the Foreign Trade Policy 2015-20.
[F.No. 349/58/2017-GST(Pt)]
(Gunjan Kumar Verma)
Under Secretary to the Government
of India
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