EPCG Invalidation Letter

[Kaustubh Karandikar]

XYZ is issuing ‘EPCG Invalidation Letter’ to PQR for procuring goods from local market. 1) Is PQR required to pay GST against this supply or it is exempted being deemed export.? 2) If GST is required to be paid can refund be claimed against the GST paid by XYZ or PQR?

AI Summary

EPCG Invalidation Letter: GST Exemption for Deemed Export Confirmed; Refund Options for XYZ or PQR Discussed An individual inquired about the Goods and Services Tax (GST) implications of an EPCG Invalidation Letter issued by XYZ to PQR for procuring goods from the local market. The questions raised were whether PQR is required to pay GST on this supply or if it is exempt as deemed export, and if GST is paid, whether a refund can be claimed by XYZ or PQR. The response by another participant suggested that this transaction qualifies as deemed export.