Exports have been granted a beneficial treatment even under the Goods and Services Tax (GST) legislation. In terms of the GST legislation, exports are 'zero rated supplies' i.e. supplies on which the GST rate is fixed as 'zero'. While exporting goods/ services, an exporter has the following options:
MUMBAI: India will soon have to take a call on whether to officially share the US dollar-rupee reference rate with overseas exchanges, fund houses, corporates and banks.
The Central Board of Indirect Taxes & Customs (CBIC) has decided to process the input tax credit (ITC) claims online, said an official.
MUMBAI: The Reserve Bank of India (RBI) has appointed former deputy governor Rama Subramaniam Gandhi as an additional director on the board of Yes Bank for two years, from 14 May 2019 to 13 May 2021, the bank said on Tuesday in a notice to the stock exchanges.
Commerce Minister Suresh Prabhu said that the WTO Ministerial Meeting of Developing Countries that concluded in New Delhi on Tuesday is a step forward amid ongoing protectionist tendencies in world trade.
Exporters of goods and services as well as suppliers to SEZ units are likely to get GST refunds automatically from June as the revenue department switches on to faceless scrutiny of refunds and faster claim settlement, reports citing official sources said.