GST EFFECTS ON IMPORTS AND EXPORTS: BEST GST SOFTWARE

Here we describe you the detailed view in import and export as before GST there are many taxes like excise, VAT, Service Tax and custom duty kinds of tax on goods and services but now it is GST and basic custom duty(BDM) will only be impacted here:

http://www.ssstp.com


  • In GST only the importer is responsible for paying IGST and custom duty.
  • An importer can claim full responsibility on IGST paid on import of goods and services.
  • Import of service be stated as the supplier be from outside of INDIA, the recipient is in INDIA, and place of supply of service in INDIA. 
  • The exports will be zero rated under GST. An exporter can also claim refund of the tax paid on inputs used to manufacture/purchase/provide the exported goods or services.
  • An export of service be stated as the supplier located in INDIA, and recipient located outside INDIA.

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