On October 6, the Goods and Services Tax (GST) Council had decided to allow exemption for goods imported or sourced domestically by holders of advance authorisation and EPCG (Export Promotion Capital Goods) authorisation. A week later, the government gave effect to the decision by issuing an exemption notification for import. This prescribes new conditions that have surprised exporters.
Before introduction of GST, import of capital goods could be made under EPCG authorisation without payment of basic customs duty and additional duty (CVD and SAD); an export obligation could be fulfilled through physical export and deemed export. In the GST
Before introduction of GST, import of capital goods could be made under EPCG authorisation without payment of basic customs duty and additional duty (CVD and SAD); an export obligation could be fulfilled through physical export and deemed export. In the GST
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