Import / Export

[RAMESH ANANTHAKRISHNAN]

Hello

We understand from the news papers that from 1st July, exporters are to pay the Excise duty of the product exported and get the refund from the department. Also there is no import license from 1st July. We do export against Advance License and EPCG License. Kindly advise whether the licensing system will continue or we have to pay to duty at the time of export as well as import.

A.RAMESH

AI Summary

Export under GST: choose paid-GST with refund or export via LUT/bond; existing licence obligations continue pending interim policy.
Exporters may either export with payment of GST and claim refund, or export under a Letter of Undertaking (LUT) or bond to avoid upfront tax; meanwhile exporters holding advance authorisation or EPCG must continue to fulfil their existing export obligations, and interim policy guidance from the Ministry of Commerce is awaited.