Is IGST payable against local purchase by EOU
A brief idea about Local procurement of goods by EOU under GST is explained here.
Let us discuss about Is IGST payable against local purchase by EOU.
Export Oriented Unit has to procure raw materials from domestic tariff area(locally). What would be the GST exemption frame if an EOU needs to buy goods locally?
For the indigenous procurement of goods covered under GST, the EOU will not get ab-initio exemptions. Such supplies would be on payment of COST/SOSTIUTOST/IGST. The taxes so paid will be neutralized by ITC. For the indigenous procurement of goods covered under Fourth Schedule, the EOU will continue to get ab-initio exemptions from central excise duty.
The above information details about procurement of materials locally by EOU under GST regime.
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