Respectable friends,
please clarify the below queries..
A). Whether Unutilised CgSt /Sgst Credit balance earned on capital goods of a take over company can claim refund after its conversion in to SEZ or EOU?
B). For any reason if it is not possible, can SEZ or EOU unit pay IGST on export of goods and claim refund? Under sec 54 / Rule 96(10) ?
Are there any restrictions to the same ?
Regards
Ramakrishna
SEZ Units Can't Claim GST Refund on Capital Goods Without IGST; EOU Export Rules Differ for Duty-Free Imports A discussion on a forum addressed queries regarding the refund of unutilized GST credits for SEZ (Special Economic Zone) or EOU (Export Oriented Unit). It was clarified that SEZ units cannot claim a refund on GST paid for capital goods without IGST payment, while EOU can export with taxes if goods are not made from duty-free imports. SEZ units must register separately and can only deal with IGST. Supplies to SEZ must be zero-rated, and SEZ exports cannot currently pay IGST for refunds. Integration of SEZ and ICEGATE portals is ongoing. There are no legal restrictions on SEZ exporting with tax payment. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
