Refunds of IGST paid on Supplies meant for Export under Rule 96(10) of CGST Rules “Effective Date of Implementation 09.10.2018 OR 23.10.2017”

Refunds of IGST paid on Supplies meant for Export under Rule 96(10) of CGST Rules “Effective Date of Implementation 09.10.2018 OR 23.10.2017” https://www.taxtmi.com/article/detailed?id=9128 The Explanation added to Rule 96(10) by Notification No.16/2020 CT (23.03.2020) was given retrospective effect from 23.10.2017, but on reviewing the sequence of prior substitutions and the Gazette effective date of Notification No.54/2018, the Explanation should instead be effective from 09.10.2018. Absent corrigendum, retrospective application risks recovery of IGST refunds from exporters who imported under Advance Authorisation and paid IGST while availing only Basic Customs Duty exemption; the author urges CBIC to withdraw or correct the retrospective dating to avoid litigation and hardship. en-us Tue, 28 Apr 2020 06:19:43 +0530 Tue, 28 Apr 2020 06:19:43 +0530 TaxTMI RSS Generator Refunds of IGST paid on Supplies meant for Export under Rule 96(10) of CGST Rules “Effective Date of Implementation 09.10.2018 OR 23.10.2017” https://www.taxtmi.com/article/detailed?id=9128 The Explanation added to Rule 96(10) by Notification No.16/2020 CT (23.03.2020) was given retrospective effect from 23.10.2017, but on reviewing the sequence of prior substitutions and the Gazette effective date of Notification No.54/2018, the Explanation should instead be effective from 09.10.2018. Absent corrigendum, retrospective application risks recovery of IGST refunds from exporters who imported under Advance Authorisation and paid IGST while availing only Basic Customs Duty exemption; the author urges CBIC to withdraw or correct the retrospective dating to avoid litigation and hardship. Articles Goods and Services Tax - GST Tue, 28 Apr 2020 06:19:43 +0530 https://www.taxtmi.com/article/detailed?id=9128