‘Provisions of GST in import, export need to be understood properly’
   Date :19-Jul-2021

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Business Bureau :
 
From inception there have been many changes in Goods and Services Tax (GST) law. With so many notifications and circulars, regular updation of GST provisions is the need of the hour. On this subject the Nagpur Branch of ICAI organised a virtual conference on ‘Provisions related to import, export and refunds under GST’. “You need to be updated continuously in GST”, remarked CA Milind Patel, past Chairman of Nagpur branch while speaking as the chief guest at the conference. He further said that nowadays Chartered Accountants (CAs) are occupied in compliance practice which is getting more automated. The provisions of GST in import, export and refunds need to be understood properly for effective understanding and implementation of the provisions.
 
“Earlier not many CAs used to represent at the Customs, Excise and Service Tax Appellate Tribunal (CESTAT). But with changing scenario, now more and more CAs are appearing and arguing cases on behalf of clients which is a welcome beginning,” he said. “GST is a technology driven law and all procedures related to it need to be followed properly else stricter actions would be initiated automatically by the system,” said CA Patel. “CAs have played a major role in implementation of GST law in India,” said CA Saket Bagdia, Chairman of Nagpur Branch. He further said, “Many times it happens that assessees are making applications for exports and claiming refunds and that is the reason proper consultation with a professional is a must.” The rules and procedures in import, export and refund claims need to be understood properly. To give a practical insight into all these requirements, learned speakers have been called for clarification of doubts of members, Bagdia concluded.
 
CA Vishal Poddar from Nashik and CA Archana Jain from New Delhi jointly deliberated on the topic. All provisions related to import and export were covered in the presentation by the speakers. CA Vishal Poddar covered the relevance of Customs provisions in GST while explaining difference between import of goods and services. CA Archana Jain covered all types of refunds in GST and explained in detail procedure for refunds and challenges faced in refunds and its solutions. The session was coordinated by CA Sanjay M Agrawal, Secretary of Nagpur Branch. Present were CA Jitendra Saglani, Vice-Chairman, CA Akshay Gulhane, Treasurer, CA Kirit Kalyani, Immediate Past Chairman, CA Sakina Kothawala, CA Sunil Paliwal, CA Prateek Vaidya, CA Mithilesh Bharadwaj, CA Aditya Gautam and others.