Import of products and services into India will attract IGST. Basic custom duty and every one applicable customs levy will still be charged.
- IGST on import of products are levied and picked up under the Customs Act, 1962.
- IGST on import of services are going to be covered under the IGST Act.
The supply of products or services to the subsequent would be treated as exports under GST.
Supply of products by a registered person against Advance Authorization
Supply of capital goods by a registered person against Export Promotion Capital Goods Authorization
Supply of gold by a bank or Public Sector Undertaking against Advance Authorization as per Customs law