deemed exports status in gst

[Guest]

in present scenario by issuing form f -we can purchase material from local party for exports-the party will not

collect any taxes.

what is the status in GST

[CSSANJAY MALHOTRA]

Dear Mr. David,

Form F is for stock transfer and Form H is for Deemed Exports. No forms exists in GST regime and tax is levied on all supplies even meant for Export. Refund is available to exporter of GST in case of Deemed Exports.

You can refer to my article published at this platform. (GST-Improving Ease of Doing Business) or go through PPT on GST as the all the info is placed thereat.

[DR.MARIAPPAN GOVINDARAJAN]

As told by Shri Sanjay Malhotra, we have to wait till the Acts in regard to GST are enacted and rules are framed for thiat purpose.

[DR.MARIAPPAN GOVINDARAJAN]

As told by Shri Sanjay Malhotra, we have to wait till the Acts in regard to GST are enacted and rules are framed for that purpose.

[Ganeshan Kalyani]

Sir, Statutory Forms are going to be abolished in GST regime. Taxability is based on supply concept. Yes the articles published by experts give us a overview of the proposed law. However , till the the draft becomes a law there could be add/delete/amend in the proposed draft. Thus have to wait till that time to know the actual situation. Thanks

[YAGAY andSUN]

GST cannot sustain if Statutory Declaration Forms/Way Bills/ Challans/ Declaration Form under Local VAT laws are allowed to be used as this will break very chain of levy of tax and seamless availment of credit. Further, there is no provision in GSTN Software.

[KASTURI SETHI]

I am thankful to all the experts for enrichment of my knowledge on the issue.

[YAGAY andSUN]

CONCERNS OF THE EXPORTS SECTOR IN THE GST REGIME - PUT FORWARD BY FIEO IN THE MEETING OF EMPOWERED COMMITTEE OF STATE FINANCE MINISTERS ON GST on 30th August 2016.

Changes in Deemed Exports: GST would also require suitable changes in many of the Schemes in the Foreign Trade Policy .The categories of the deemed exports would be notified by the Government on the recommendation of the GST Council. However, deemed exports is vital to provide a level playing field to the domestic manufacturers supplementing "Make in India” and thus zero rating of such supplies would be a preferred option particularly for those supplies which are exempted from Customs Duty and IGST on their imports.

[CSSANJAY MALHOTRA]

For kind consideration of all, GST will do away with all exemptions and put in place the refund mechanism.Representations have been made by several persons/bodies but have been considered as if exemptions are given, it will defeat the purpose of GST.

[Ganeshan Kalyani]

Sir, every transaction shall be taxed and tax credit chain will be such that only the ultimate customer pays the tax. Double taxation, tax on tax shall be abolished. Exemption, area based exemption etc. Shall be done away. Thanks.

AI Summary

GST Impact on Deemed Exports: Transition from Statutory Forms to Supply-Based Taxation with Refunds Available A discussion on the implications of the Goods and Services Tax (GST) on deemed exports highlights the transition from the previous system of using statutory forms, like Form F and Form H, to a new regime where all supplies, including exports, are taxed. Refunds are available for GST paid on deemed exports. Experts note that statutory forms will be abolished, and taxability will be based on the supply concept. Concerns from the export sector suggest that zero-rating deemed exports could support domestic manufacturing. The GST aims to eliminate exemptions, ensuring only the final consumer bears the tax burden.