Is IGST paid on imports by EOU is refundable?


Is IGST paid on imports by EOU is refundable?

  

Is IGST paid on imports by EOU is refundableThe below information is about refund of GST paid by EOUs.

 

Export Oriented Units (EOUs) constitute a very important sector in the country’s Export Production scenario. They have become dominant players in our export strategy, and their share in the Country’s export performance is about 10%.

 

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Imports by EOUs after GST implementation

 

Do you wish to add more information about Imports by EOUs after GST implementation?

 

 

The EOUs will continue to get exemption from payment of the basic Customs Duty, however they will have to pay IGST on imports.On the IGST paid on import of inputs, ITC would be available which can be utilized for payment of GST payable on the goods cleared in the DTA. Refund of the unutilized ITC can also be claimed under Section 54(3) of CGST Act.

 

 

Comment below your thoughts and experience about IGST refund mechanism to EOUs and its implications.

 

 

 

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Comments


KSN PATNAIK: I have doubt regarding the IGST,I have paid IGST on goods purchased @ 18%, whether this amount can be adjusted or refund against claim on IGST,if refund allowed in which form to bffiled. Please confirm per return. Thanks. KSN PATNAIK.

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