I would like to import product A which would be used as a component in the product to be exported.
what would be IGST factor in the import duty?
Will import duty be replaced with IGST?
AND if I want to make product B in India with 25% component of imported A in it, then
How would I get the IGST refunded since the imported product is also exported?
Since the talk is that many schemes like advance licence etc would be wiped off.
Hence please give us your expert advice.
Basic import duty will remain.
IGST will be added over BCD.
Because of export, you will be able to get refund of the IGST.
More clearity about any other modifications, would be available only after implementation of GST.
CAclubindia
