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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>New Guidelines for Deemed Export Benefits: Section 147 KGST Act, 2017 Requires Form-A and Form-B for EOUs and Others.</h1> The circular outlines the procedure for procurement of goods by Export Oriented Units (EOUs), Electronic Hardware Technology Park (EHTP) Units, Software Technology Park (STP) Units, and Bio-Technology Parks (BTP) Units under deemed export benefits according to Section 147 of the KGST Act, 2017. It mandates prior intimation using Form-A, issuance of tax invoices, and maintenance of digital records with audit trails in Form-B. The circular aligns with a central circular and specifies that deemed export supplies are eligible for tax refunds, which can be claimed by either the supplier or recipient. Compliance with the Foreign Trade Policy 2015-20 is also required.
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