Hyderabad Customs Updates: GST Introduces IGST on Imports, Export Refunds Need Shipping Bill & GST Invoice.
The circular from the Hyderabad Customs Commissionerate outlines the changes in customs law and procedures due to the introduction of the Goods and Services Tax (GST) effective from July 1, 2017. The Integrated Goods and Services Tax (IGST) will be levied on imports, with importers eligible for credit. Export refunds require a Shipping Bill and GST Invoice. Changes include modifications to the Bill of Entry and Shipping Bill forms to align with GST requirements. Importers must declare their GSTIN or PAN for credit claims. The Customs EDI system will validate export details for IGST refunds. Stakeholders are advised to familiarize themselves with these changes.
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