No GST on advance payment for exports

GST would not applicable on advance payment for exports, this was informed during a workshop on GST for exporters of garment and other allied sectors from the city, which was organized by RIICO at Udyog Bhawan on Wednesday.

One of the major impressions of the trade that GST would be applicable on advance payment for export was clarified and traders were given relief that it would not be applicable. Notably, in Rajasthan, a large part of handicraft business is done on advance payment method and exporters were worried over the rules related to GST on advance payment.

Garment Exporters Association of Rajasthan (GEAR), during interaction with MD RIICO last week had requested for organizing a workshop on GST to help the trade better understand its rules, procedures and formalities.

Queries of participants including procedures, formalities and other impressions that the trade is carrying were addressed by Meenal Bhosale, IRS, OSD, finance department, GoR and other officers from customs department. RIICO MD Mugdha Sinha also interacted with the participants.