Integrated Tax Amendment for Refund Claims on Exports
Notification Amendment:
Amendment to Notification No. 01/2023 - Integrated Tax dated 31st July 2023.
Refund Eligibility:
Specifies goods or services eligible for export on payment of integrated tax with the right to claim a refund.
Expansion for SEZ Suppliers:
Inclusion of suppliers to Developers or units in Special Economic Zones (SEZ) for authorized operations as eligible entities for claiming a refund on integrated tax payment.
Effective Date Clarification:
The substitution of the specified portion is deemed effective from 1st October 2023.
Explanation Clauses:
Definitions provided for terms like "authorised operations," "Developer," "Special Economic Zone," and "unit" aligning with the Special Economic Zone Act, 2005.
Facilitating SEZ Transactions:
Aims to streamline tax processes for suppliers involved in authorized operations within Special Economic Zones.
Immediate Enforcement:
The amendment is in effect from the date of its publication in the Official Gazette.
Note: Complete details can be found in the official gazette for Notification No. 01/2023 - Integrated Tax.