Sez Migration To Gst Statutory Provision Tax Effect Possible Solution
Statutory Provision 1st proviso to Rule 8 of the Central Goods and Services Rules, 2017 provides that a SEZ unit / developer shall make a registration application for registration as a business vertical which will be separate from other units located outside the SEZ;Application for registration under GST is required to be filed in Form GST REG 01. Sl No 12 and 13 of the Form requires the applicant to confirm if they are applying for registration as an SEZ unit / Developer and also asks for the details of the SEZ approval;Section 7 of the Integrated Goods and Services Tax Act, 2017 provides that all the supplies of goods and services to SEZ would be treated as inter- State supplies and accordingly the same will be liable to IGST based on Section 5(1) of the IGST Act, 2017;A supplier to SEZ is required to provide the GST Number of the customer while filing the returns of Outward Supply in Form GSTR 1....