SIR GOODMORNING,
PLEASE NOTE WE ARE FOOTWEAR MANUFACTURING AT PRESENT WE AVAIL 9.5% PERCENTAGE OF DRAWBACK ON OUR EXPORT PROVIDED WE DONOT AVAIL THE INPUT CREDIT OF EXCISE AND SERVICE TAX BUT WE AVAIL THE CREDIT OF VAT AND GET REFUND .NOW ALL THIS THREE EXCISE ,SERVICE TAX AND SALES TAX ARE MERGED INTO GST, HOW WILL THE DRAWBACK WILL BE ISSUED ? FYKI AT PRESENT WE RECEIVE 9.5% DRAWBACK AND 1% STR FOR EACH EXPORT,KINDLY ADVICE HOW THEY DBK WILL BE ISSUED FROM JULY IST 2017.
Footwear Manufacturer Seeks Guidance on GST Impact on Export Drawback Scheme; Current Rate at 9.5% Plus 1% STR. A footwear manufacturer inquires about the impact of the Goods and Services Tax (GST) implementation on their current export drawback scheme. They currently receive a 9.5% drawback without availing input credit for excise and service tax, but do receive VAT credit and refunds. With the merging of excise, service tax, and sales tax into GST, they seek guidance on how the drawback will be processed from July 1, 2017, noting they presently receive a 9.5% drawback and 1% STR for each export. (AI Summary)
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