Is EOU required to pay IGST on imports?

 

Is IGST attracted on supplies by EOUs?

  

Is EOU required to pay IGST on importsThis post explains about IGST attraction on supplies by EOUs.

 

IGST by EOU on imports.

 

 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%.

 

Goods and service tax regime in India plays a pivotal role to change Indian economy. How does exports and imports influenced when implementing GST in India? How does EOU function in GST regime? Is IGST payable on supplies effected by EOUs? How are duties treated on imports by Export Oriented Units?


According to GST Law, 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.

 

 

The above information is about IGST payment by EOU under GST regime. If you

would like to add more information about procedural changes in EOU after GST

implementation, share below your thoughts below:

  

 

Re warehousing procedures under STP and EOU units.

 

Local procurement of goods by EOU under GST

Export obligation before GST after GST under EPCG scheme.

Utilization of Advance Authorization scheme before GST and after GST

chapter 7 of the Foreign Trade Policy

Conditions to sell in DTA under GST regime

Is GST payable on supplies to Export Oriented Units?

Is free import of capital goods allowed to EOU against Procurement certificate?

Is IGST paid on imports by EOU is refundable?

Is Basic Duty payable by EOU after GST implementation?

Is EOU required to pay IGST on imports?

Any operational change of SEZ scheme after GST

Should an EOU pay GST on imports?

What type of duties can be paid using MEIS or SEIS scrips now?

Can SEIS scrips be used to pay customs duty against import of GST items?

 

Click here to know GST rate payable for goods or service

Click here to know GST exemption list of goods and service

Find HSN number or Service tariff code for GST

GST registration guidelines

Indian GST Laws

How to export your goods?

How to get Export Order?

GST Registration Guidelines

Service Tariff Code for GST

 


How to overcome the credit risk in an export business?

How important Packing in export trade ?

How to Choose a product for export business

How to send export samples to foreign buyer? Tips to send samples to foreign buyer

Export marketing : How to get order

Disadvantages of Letter of credit (LC) for Exporter

How to start Export Business?

What are the risks and solutions in Export Business?

Click here to know India Trade Classification(ITC)

 

 

GST rate on Knitting machines business

GST rate applicable on goods under HSN Chapter78

 GST on goods under HSN 4202

 

GST applicable rate on goods under HSN Chapter 41


Discussion Forum

You can also share your thoughts about this article.
Any one can answer on question posted by Readers