https://www.taxtmi.com/article/detailed?id=6543 The note argues that conditioning GST refunds on realisation of export proceeds in foreign exchange is inconsistent with GST's status as a destination consumption tax and with many prior export reliefs that are not recoverable for non realisation. It warns that recovery of refunds after export would effectively re tax goods consumed abroad, imposes extra loss on exporters who also face FEMA penalties, and raises double jeopardy concerns. The author urges deletion of the foreign exchange realisation condition or use of credit insurance to protect exporters against both non realisation and refund recovery. en-us Wed, 25 Nov 2015 08:39:29 +0530 Thu, 26 Nov 2015 10:05:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=6543 The note argues that conditioning GST refunds on realisation of export proceeds in foreign exchange is inconsistent with GST's status as a destination consumption tax and with many prior export reliefs that are not recoverable for non realisation. It warns that recovery of refunds after export would effectively re tax goods consumed abroad, imposes extra loss on exporters who also face FEMA penalties, and raises double jeopardy concerns. The author urges deletion of the foreign exchange realisation condition or use of credit insurance to protect exporters against both non realisation and refund recovery. Articles Goods and Services Tax - GST Wed, 25 Nov 2015 08:39:29 +0530 https://www.taxtmi.com/article/detailed?id=6543