More obtuseness from the FinMin

Last Tuesday, the government amended Rule 96 (10) of the Central Goods and Services Tax (CGST) Rules, 2017, retrospectively from October 23, 2017. This sent shock waves through the exporting community. The amendment says export-oriented units (EOUs), advance authorisation holders (AAHs) and Export Promotion Capital Goods (EPCG) authorisation holders which import their requirements without payment of Integrated GST (IGST) are not eligible for refund of the IGST paid on export goods. When GST was introduced, the government ignored pleas to retain upfront exemption from IGST on import.....

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