Exports under GST : LUT & Bond
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Exporters can make exports without paying IGST by filing either a bond or letter of undertaking (LUT), depending on their status. Status holders like those recognized in foreign trade policy or those receiving over 10% of exports in foreign currency over 1 Crore rupees can file an LUT. Other registered exporters must file a bond using form GST RFD-11 to avoid blocking working capital. The government clarified the process to allow exporters to continue exporting without tax payment or capital blockage.
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Export import for ss is 1
The document provides information on exports and imports for small and medium enterprises and businessmen. It discusses the legal framework for exim trade in India and outlines the key laws governing imports and exports. It also summarizes the mandatory and voluntary registrations required for importers and exporters, including Importer Exporter Code (IEC), Registration Certificate from Export Promotion Councils, and memberships. Finally, it outlines various terms of payment commonly used in international trade such as advance payment, letter of credit, open account, and deferred payment terms.
FEMA Act, FDI In india, ECB Compliance
Foreign exchange is applicable on all type of foreign inflow in the India. Fema is applicable venture funding in india. all investment by NRI in india subject to FEMA regulations.
FEMA UPdate _ FEB 2014
This document provides summaries of recent updates to India's foreign exchange laws from the Reserve Bank of India (RBI), including:
1) Revisions to rules around third party payments for exports/imports and removal of limits on third party payments for imports.
2) Revisions to Form FC-GPR for reporting foreign direct investment to capture more details.
3) Reduction of the sub-limit on investment in commercial papers by eligible foreign investors from $3.5B to $2B with the $1.5B balance available for corporate debt.
4) Revisions to Form ECB-2 for reporting external commercial borrowings to include details on foreign exchange hedges.
Business Environment_Unit 5.pdf
The document discusses foreign investment and trade regulation in India. It defines foreign direct investment and foreign institutional investment. It describes the advantages of FII. It provides an overview of the World Trade Organization, including its structure and role. The document also discusses India's regulation of foreign trade through acts and rules. Finally, it defines disinvestment in public sector units as the sale of government-owned enterprises and outlines its objectives in India.
Fdi and fpi
This document provides an overview of foreign direct investment (FDI) in India. It defines FDI and describes the different types including horizontal, vertical, and conglomerate investments. It outlines the FDI policy in India, including the sectors that allow 100% FDI through the automatic route versus those that require government approval. The document discusses the advantages and disadvantages of FDI for host countries. It also summarizes the major reforms to India's FDI policy since the 1990s that have liberalized and encouraged more foreign investment.
Export – Import in GST regime
This document provides information on export and import procedures in India under the GST regime. It defines key terms related to exports and imports such as export of goods, export of services, import of goods, import of services, and zero-rated supply. It outlines the acts and rules that govern exports and imports. It describes the process for exporting goods from India to overseas locations with or without payment of integrated GST under a bond/letter of undertaking or with payment and claiming a refund. The document provides clarity on eligibility criteria for a letter of undertaking and documents required for a bond/letter of undertaking.
Gst with exports notes of sg institute export import expertise
SG Institute of Tax & Exim Management : Part Time Short Terms Advanced Certificate Courses On Export Import Management & Direct Indirect Taxes , Including Latest Complete Goods & Service Tax(GST)
Export – Import in GST regime (Updated As On 15.08.2017)
SG Institute of Tax & Exim Management : Part Time Short Terms Advanced Certificate Courses On Export Import Management & Direct Indirect Taxes , Including Latest Complete Goods & Service Tax(GST)
Corporate office:
01 Ground Floor, “Bhagyalaxmi Building”,
Near Shivsena Office, Road No.-21,
Wagle Industrial Estate, Thane-400 604.
(Mumbai), Maharashtra, INDIA
Email :
info@swayambhugroup.com
gst@swayambhugroup.com
swayambhueximexpertise@gmail.com
Tel No.: +91 022-25802261 Mobile: +91 9004815061/+91 9869506261
Web http://swayambhugroup.com/
By CA.Shweta Ajmera- TDS on payment made to Non residents u/s section 195,MLI...
Tax deducted at source/ Withholding tax u/s 195 of Income TAx Act in India, Withholding tax liability as per DTAA, MLI Income on TDS on payment made to NR, Form 15CA &Form 15CB compliances. and Declaration , Indemnificaton in recent scenario.
Regards:
CA.Shweta Ajmera
cashwetaajmera@gmail.com
Few Question and Answer
- There are no restrictions on the percentage of royalty payments for use of technology or trademarks under FEMA. Royalty payments are considered current account transactions.
- There are no restrictions on payment of commissions, except for commissions over USD 25,000 or 5% of inward remittance paid to agents abroad for sale of residential/commercial property in India.
- Payment for employee stock ownership plans (ESOPs) are considered capital account transactions governed by FEMA regulations.
- Under the Liberalized Remittance Scheme, residents can provide loans in foreign currency to non-resident Indian relatives.
- Profits from sale of property or shares by non-resident Indians are considered capital account transactions as the
Update on FEMA _ July 2015
The document contains 4 circulars from the Reserve Bank of India regarding updates to foreign exchange laws and regulations in India from July 2015. The circulars provide clarification on the re-export of unsold rough diamonds from special customs zones without export forms, allow foreign investment in activities related to tobacco other than manufacturing, issue of employee stock options/shares to overseas employees in accordance with sector caps, and permit banks to factor export receivables on a non-recourse basis. The document also contains an advertisement from a professional services firm called Taxpert Professionals providing taxation and corporate advisory services.
Fdi policy
- Foreign direct investment (FDI) in India is regulated by the Foreign Exchange Management Act (FEMA) and the Reserve Bank of India. The current FDI policy framework is outlined in the Consolidated FDI Policy of April 2010.
- There are two routes for FDI - the automatic route that allows up to 100% foreign investment in most sectors without approval, and the government route that requires approval for sectors restricted or regulated.
- FDI brings benefits like economic growth, employment, technology transfer, but also risks like inflation, dominance of foreign firms over domestic industry, and over-dependence on one industry.
GST 9 Annual Return FY 2018-19
The document provides information on the due dates for filing annual GST returns and audit for the 2018-19 financial year. It discusses the applicability of audit requirements based on aggregate turnover, which is the total value of taxable, exempt and export supplies across all registrations with the same PAN. It also summarizes the key parts and tables in form GSTR-9 for filing the annual return and highlights important points about filing, consequences of late or non-filing, and how to analyze the details required in the different sections.
Inbound inv oct_08
The document provides an overview of key provisions related to inbound foreign investment under India's Foreign Exchange Management Act (FEMA). It discusses the structure of FEMA and differences between FEMA and income tax regulations. It then summarizes provisions for foreign direct investment, including prohibited sectors, automatic vs. approval routes, and procedural compliance requirements. Specific policies for sectors like construction, NBFCs, and trading are also outlined.
Bangladesh foreign investment law guide the legal circle lexis nexis_english_...
Foreign investors are attracted to invest in Bangladesh due to its low-cost industrial workforce, strategic location providing access to international markets, and liberal foreign investment policies including tax incentives and protections. The main foreign investment legislation is the Foreign Private Investment Promotion and Protection Act of 1980, which guarantees equal treatment for foreign and domestic investors and protections against expropriation. Setting up a 100% foreign-owned company or joint venture typically takes around 2 months and requires registration with multiple agencies. Foreign investment is restricted in a few sectors but open in most, including manufacturing.
BCAS - Study Course on FEMA - Sector specific FDI (Real Estate, Retail Tradin...
BCAS - Study Course on FEMA - Sector specific FDI (Real Estate, Retail Tradin...P P Shah & Associates
The document discusses foreign direct investment (FDI) in India, including sector-specific FDI in real estate, retail trading, and the financial sector. It provides an overview of the history and liberalization of FDI policy in India. It outlines the key conditions, rules, and sectors that are prohibited or restricted for FDI under India's FDI policy.Recent Tax Developments in India - DTC 2013 & APA updates
The document summarizes recent tax developments in India related to the Direct Taxes Code (DTC) 2013 and Advanced Pricing Agreements (APA). For DTC 2013, it provides an overview of the key changes compared to the existing Income Tax Act, including lower corporate tax rates, a branch profit tax, expanded source rules, and controlled foreign company rules. For APA, it briefly discusses the process and updates but does not provide details.
ECA Alert - Export of goods and services
1. Conditions for supply of goods and service falling under category of “Export
2. Rate of Exports
3. Export of goods and/or services under bond or LUT without payment of IGST
4. Self sealing in case of export of goods
Controversy on the applicability of MAT to foreign companies and FIIs - K. R....
Controversy on the applicability of MAT to foreign companies and FIIs - K. R. Girish - Article published in Business Advisor, dated April 25, 2015 http://www.magzter.com/IN/Shrinikethan/Business-Advisor/Business/
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How to Start Export Business _ Basic Requirement & Benefits
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Gst with exports notes of sg institute export import expertise
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Export – Import in GST regime (Updated As On 15.08.2017)
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- 1. Exports under GST: How to Use Bond or LUT? Exports without the payment of tax can be made only after filing a bond or letter of undertaking (LUT) as applicable to the exporter. There was a lot of ambiguity regarding the exports which are to be made without the payment of IGST. The government of India has released few notifications regarding the filing of bond and LUT in the case of certain specified people. Exporters can make the payment of IGST at the time of export and then claim the refund later but it will block their working capital. Following Exporters Would Need to File LUT in Form GST RFD-11 1. Status holders mentioned in the foreign trade policy: a) Entities which are prominent business leaders in the international trade and have successfully contributed to country’s foreign trade. Special treatment and privileges are provided to these entities to reduce their transaction cost and time. For example TATA Steel in the export of steel or Vardhaman Textiles in the export of textile products. b) Different export houses and their classification: Export House status FOB/FOR of exports (in US million $) One-star export house 3 Two-star export house 25 Three-star export house 100 Four-star export house 500 Five-star export house 2000
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