GST Daily | Editorial Board
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Today’s newsletter analytically summarizes the top GST updates reported at taxmann.com.
Separate registration not required in other State if imported goods sold directly from CFS: AAR
The applicant was an importer and reseller of chemicals, having main place of business in the State of Maharashtra. It was registered under the GST law in the State of Maharashtra. It filed an application for advance ruling to determine whether it would be required to obtain registration in importing States other than Maharashtra, if goods would be imported, sold and delivered directly from CFS (Container Freight Station) to customers from those States.
The Authority for Advance Ruling observed that imported goods would be sold by the applicant before the Bill of Entry would be filed or before the goods would be cleared for home consumption on payment of Customs duty and IGST. As per the provisions of section 7(2) of the IGST Act, 2017, supply of goods imported into India shall be treated as supply of goods in the course of inter-State trade. Moreover, as per provisions of section 11(a) of the IGST Act, 2017, the place of supply shall be the location of the importer. In the present case since the importer was registered in Mumbai, the place of supply would be Mumbai, Maharashtra. Hence, the applicant would be allowed to supply the goods on the basis of invoices issued by the Maharashtra Office and, therefore, it would not be required to take separate registration in the State of Import.
CBIC issued guidelines for the sale of seized/confiscated gold
The CBIC has issued guidelines for disposal of seized/confiscated gold (other than gold ornaments/jewellery/articles). It has now been decided that seized/confiscated gold will be sold (other than gold ornaments/jewellery/articles) to Reserve Bank of India (RBI) only.
In this regard, the Board has consulted RBI and Security Printing and Minting Corporation of India Limited (SPMCIL) and also signed a tripartite Memorandum of Understanding (MOU) with them.
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Dawn of the EOU Scheme
The Export Oriented Unit scheme was introduced in India n 1980-81. This scheme was introduced with the objective of inter alia promoting exports from India, earning precious foreign exchange for India and attracting foreign investments into India.
Now, the charm of the EOU scheme has withered away, and a lot of units have either already deregistered themselves from the scheme or are in the process of de-registering. At the same time, even new units are not very keen on operating as an EOU. This article seeks to highlight few reasons which can be attributed to such rampant de-registration of EOUs in India and loss of interest in this scheme.
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