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On Imports Under Export Promotion Schemes IGST Will Not Applicable

Export PromotionAs a move to boost exports under many export promotion schemes The Goods and Services Tax Council has exempted imports from IGST (Integrated GST). Under IGST Special economic zones are also exempted.

Under IGST Various Telecom and IT products that were not being levied with countervailing duty previously have not been given exemption.

Any basic customs duty were not being charged for many types of IT and telecom products as under the Global Information Technology Agreement the government of India had these items under which the exemption was given.

However, to further boost the domestic telecom manufacturing industry, India also removed the countervailing duty (CVD) which was to be charged for central excise duty. When GST is applicable Telecom industry wanted to be continued with the CVD exemption.

By SEZ units and developers Exemption from IGST on imports for authorized operations will be available, said by a notice from Central Board of Excise and Customs.

Under any kind of export promotion schemes like the re-import of cut and polished precious stones sent outside the country for any special treatment on re¬import of goods exported, Integrated GST and central and state GST will not apply as all are equal.

Under GST The import of good by the staff of diplomatic missions and their families would also be exempted for their use. The products imported for Bhutan and Nepal and imported for sports events, goods that include trophies IGST will not be applicable when are re-imported.

Goods worth up to Rs 1,000 are exempted from IGST that are imported using postal parcels or letters and also imports that happen by passenger baggage. The GST Council had made the decision to exempt various imported items at its 14th meeting that were under the international agreement or commitments. Under the IGST about the products that have been exempted The Central Board of Excise and Customs made a notice.