Taxes on merchant Exporter

[Satyen Rohit]

Hello,

I am planning to start foreign export as a merchant exporter, so I would like to know what taxes are applicable. Also I would have get a Service Tax or Vat registration?

Thank you.

AI Summary

Merchant exporters must register under GST; eligible for rebates or refunds. LUT allows sourcing goods at 0.1% for exports. A merchant exporter inquires about applicable taxes and registration requirements for starting foreign exports. Respondents clarify that registration under GST is necessary as Service Tax and VAT have been subsumed into GST since July 1, 2017. Merchant exporters can obtain a rebate or refund on GST paid. Additionally, it is noted that a Letter of Undertaking (LUT) allows sourcing goods at a reduced rate of 0.1% for exports. A correction is made regarding the GST implementation date, confirming it as July 1, 2017.