47th GST Council meeting chaired by Hon'ble Union Minister of Finance Nirmala Sitaraman has concluded recently in Chandigarh which was attended by Union Minister of State for Finance Shri Pankaj Chaudhary besides Revenue Secretary Shri. Tarun Bajaj, Chairman of the CBIC Shri. Vivek Johri, Member of the CBIC Shri. D P Nagendra Kumar, Sandeep Kumar and Sanjay Agarwal and other senior officers from the Finance Ministry and the CBIC with Finance Ministers of States & UTs and Senior officers from Union Government & States.
As per Press release, The GST Council had made the following recommendations relating to exemption of IGST on import of goods under AA/EPCG/EOU scheme:
"Present exemption of IGST on import of goods under AA/EPCG/EOU scheme to be continued and E-wallet scheme not to be pursued further."
Accordingly, The CBIC has issued Notification No. 37/2022- Customs, dated June 30, 2022 to amend certain earlier issued Notifications that exempted the levy of the Customs Duty, Additional Duty and Integrated Goods and Services Tax ("IGST") and the Goods And Services Tax Compensation Cess ("Compensation Cess") on various goods imported under Advance Authorisation ("AA") Scheme / Export Promotion Capital Goods ("EPCG") Scheme /EOU Schemes Special Advance Authorization ("SAA") Scheme / Export Oriented Undertaking ("EOU") or Electronic Hardware Technology Park ("EHTP") or Software Technology Park ("STP") unit etc., in order to continue present exemption of the IGST and Compensation Cess after June 30, 2022.
S. No. |
Notification number and date |
Amendments |
(1) |
(2) |
(3) |
1. |
16/2015-Customs, dated April 01, 2015 [vide number G.S.R. 252(E), dated April 01, 2015] |
In the said notification, in the opening paragraph, the proviso to clause (iii) shall be omitted. |
2. |
18/2015-Customs, dated April 01, 2015 [vide number G.S.R. 254 (E), dated April 01, 2015] |
In the said notification, in the opening paragraph, clause (xiii) shall be omitted. |
3. |
20/2015-Customs, dated April 01, 2015 [vide number G.S.R. 256 (E), dated April 01, 2015] |
In the said notification, in the opening paragraph, clause (xiv) shall be omitted. |
4. |
22/2015-Customs, dated the April 01, 2015 [vide number G.S.R. 258 (E), dated April 01, 2015] |
In the said notification, in the opening paragraph, clause (xiii) shall be omitted. |
5. |
45/2016-Customs, dated August 13, 2016 [vide number G.S.R. 795(E), dated August 13, 2016] |
In the said notification, in the opening paragraph, clause (xii) shall be omitted. |
6. |
52/2003-Customs, dated March 31, 2003 [vide number G.S.R. 274(E), dated March 31, 2003] |
In the said notification, in the opening paragraph, in the proviso, for the brackets, letters and figures "nothing contained in clause (B) above shall apply on or after July 01, 2022, subject to the following conditions" the words "exemption under this notification shall be subject to the following conditions" shall be substituted. |
