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TMI BlogImplementation of GST - Changes in Bill of Entry/Shipping Bill FormatX X X X Extracts X X X X X X X X Extracts X X X X ..... .gov.in/msg guideline.html). The salient features of those changes in the format of the declarations are enumerated below for easy reference and compliance. Changes in Bill of Entry : 3. The Changes in Bill of Entry can be broadly listed as follows: a) Levy and Collection of IGST b) Declaration of CETH c) Identification of GST Beneficiary d) Seamless credit flow based on online reconciliation of IGST with GST return. 4. Levy_ and Collection of IGST : (i) The Taxable Value for calculation of IGST value is laid out as per Section 3(8) of Customs Tariff Act. The IGST and GST Compensation Cess would be collected as Additional Duty of Customs under section 3(7) and 3(9) of the Customs Tariff Act. (ii) The IGST rates are notified by Central Government through a Notification under Section 5 of IGST Act, 2017. The percentage rate of integrated tax in respect of goods specified are in respective schedules. Similar is the case for GST Compensation Cess Schedule under Section 8(2) of GST (Compensation to States) Act, 2017. The importer shall have to quote the notification number and serial number as in the format SCH(SL.NO), for instance to avail IGST rate unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... TIN Normal G TP, CMP, CAS, ISD, NR, TDS, Individual Yes/Yes Yes GSTIN Govt O Gov Generic EEC of Govt. No/Yes Yes GSTIN UN D UN Generic LEC of Diplomats No/Yes Yes Aadhaar A Indivi./Generic No/No No Passport P Indivi./Generic No/No No PAN I Indivi./Generic Yes(in.)/No No TAN T Indivi./Generic No/ No To summarize, every Importer needs to declare their State of Destination as State Code, GST Type as in Column (2) and GSTIN/Identification Code in their Bill of Entry. It may be noted that benefits of credit f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such conditions, safeguards and procedure as may be prescribed, without payment of integrated tax and claim refund of unutilised input tax credit; or (b) he may supply goods or services or both, subject to such conditions, safeguards and procedure as may be prescribed, on payment of integrated tax and claim refund of such tax paid on goods or services or both supplied. 10. Under the GST Laws, taxpayers would be filing their outward supply returns on GSTN for all the supplies made by them including exports. . For the exports, they will be required to quote the Shipping Bill and export invoice details which shall be validated by Customs EDI system. The confirmation of the export by Customs shall be made once the ECM is filed and closed. Based on this validation only the taxpayer (exporter) shall be granted refund of the IGST paid by him on the exported goods. This validation shall also act as the proof of export in case the exporter has made the supply under bond or LUT without payment of TGST. For facilitating the above, Shipping Bill forms have been also been modified to capture the necessary details. 11. GSTIN Entity identification GSTIN/ Type etc. needs to be quo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... c. should be used for computation of Taxable Value and IGST paid. The refund of IGST shall then be limited to the IGST paid on the goods actually exported, i.e. ₹ 44,400 in the above illustration. 14. Export Invoice Export Invoice should be issued by the supplier cum exporter in compliance with the GST Invoice Rules. It may also be noted that as per the GST Invoice Rules, in case of export of goods or services, the invoice shall carry an endorsement SUPPLY MEANT FOR EXPORT ON PAYMENT OF INTEGRATED TAX or SUPPLY MEANT FOR EXPORT UNDER BOND OR LETTER OF UNDERTAKING WITHOUT PAYMENT OF INTEGRATED TAX , as the case may be, and shall also contain the following details: (i) name and address of the recipient; (ii) address of delivery; and (iii) name of the country of destination. Other details to be given in the invoice table of the Shipping Bill shall include Third Party details, Terms Place, End Use (as per the codes available in Imports) and certain other module wise changes. 15. Changes in Drawback Declarations New declaration is being added for the exporter to certify that no input tax credit of CGST/IGST has been availed for any of the inputs or inpu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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