Term Zero rate on exports under GST

Zero rate on exports under GST

 

The details about Zero rate on exports under GST are explained here.

Zero rate on exports:

GST would not be charged on goods or services exported from India. In case, the supply of goods or supply of services qualifies as export out of India as per the place of supply provisions, the transaction would be zero rated. The supplier would be allowed to export the goods or services without charging any tax, but can avail the CGST/SGST and IGST credits. If they are unable to utilise the credit, then they can go for refund of. CGST/ SGST/ IGST paid on procurement of such goods and/or services.

Zero rated exports Impact on the Consumers:

Reduction in price: Generally, the purchase price would reduce as tax content of most products would come down. But if a product has hitherto not been subjected to tax completely then the price would increase. Further those items which are now taxable where tax rate earlier was zero may be more expensive as exemption and zero rated lists of items may come down in the GST regime.

Transparency: The tax paid would be clearly mentioned in the invoice given to the customer.

Options to customer: There would be free trade and commerce between States and throughout the country which would provide more options to the consumer.

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Comments


sujinder singh: we are export zinc sulphate heptahydrate please tel me any incentive i am clam from govt

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