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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Customs Duties Updated for GST: CVD and SAD Replaced by IGST; Exporters Enjoy Zero-Rated Benefits with Refunds Available.</h1> The circular outlines the changes in customs duties and procedures for importers and exporters due to the implementation of the Goods and Services Tax (GST) from July 1, 2017. Basic Customs Duty, Education Cess, and other duties remain unchanged, but Countervailing Duty (CVD) and Special Additional Duty (SAD) are replaced by Integrated Goods and Services Tax (IGST). Imports will attract IGST and possibly GST Compensation Cess, while exports are zero-rated, allowing refunds on IGST paid. Importers must use GSTIN for transactions, and procedures for duty calculations and import/export documentation are updated to reflect these changes.
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