GST and SEIS

 

 

 SEIS and GST

  

GST and SEISThis post explains about GST and SEIS and you may add more information about SEIS and GST at the end of this article, if you wish.

 

The duty credit scrips cannot be used for payment of IGST (Integrated Goods and Services Tax) and GST compensation cess in imports, and CGST, SGST, IGST and GST compensation cess for domestic procurement.

 

What type of duties can be paid using MEIS or SEIS scrips now? Can we use these scrips to pay GST?

 

For items covered under the GST, scrips can be used for payment of Basic Custom Duty,Safeguard Duty, Transitional Product Specific Safeguard Duty, and Antidumping Duty.

 

For items not covered under the GST (specified in Fourth Schedule to Central Excise Act 1944 covering specified petroleum products, tobacco etc.), in addition to the Basic Custom Duty, Safeguard Duty, Transitional Product Specific Safeguard Duty, and Antidumping Duty, scrips can also be used for payment of duties like central excise, CVD/ SAD.

 

The scrips cannot be used for payment of any type of GST.

 

 

Comment below your thoughts and share your experience about SEIS and GST.

 

 

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