Abhishek Raja "Ram"

Foreign Tourists May Soon Be Able To Claim Tax Refund On Departure, Says Financial Express Report

Revolutionary Raja Ram for Tax & Economic Reforms

Foreign Tourists May Soon Be Able To Claim Tax Refund On Departure, Says Financial Express Report

Foreign tourists in India will soon be able to get the refund of GST paid by them for buying goods here. 


Work on the procedure and rules for refund of GST to foreign tourists will be started soon and could be implemented early next year, according to a Financial Express report quoting sources. 

The move, once implemented, will promote tourism in India.


“While the Integrated GST Act has provided for GST refund to foreign tourists for local shopping that is taken out of the country, the rules and procedure have to be finalised.


 It is planned to be taken up shortly," The facility of tax refund is already available in many countries. Foreign visitors get these refunds at the airport at the time of their departure.


The long-pending proposal in India will be required to be presented before the GST Council and get its approval. The matter of GST refund for foreign tourists is one of the last issues that remain to be implemented.


Amnesty for pre-GST tax arrears extended in Maharashtra

Amnesty for pre-GST tax arrears extended

The amnesty scheme for settlement of arrears of tax, interest, penalty or late fee prior to the implementation of the GST introduced by the Maha Vikas Aghadi (MVA) government has been extended by state finance minister Devendra Fadnavis.


Terming it the Maharashtra Settlement of Arrears of Tax, Interest, Penalty or Late Fee Act, 2023, Fadnavis in his budget speech said under the scheme, the government will grant a full waiver of arrears, if the arrears for any year are Rs 2 lakh or less as per the statutory order.


He said this would benefit small traders in nearly one lakh cases. 

Also, dealers having arrears up to Rs 50 lakh or less as per the statutory order will pay only 20% of the total arrears and the remaining 80% will be waived. 


This, he said, would benefit around 80,000 cases. The scheme was introduced by the MVA in its 2021-22 budget. It had allowed full waiver for arrears below Rs 10,000 and had benefited around 89,890 cases. An outstanding amount of Rs 81 crore was waived off. 


Further, traders withdrew 20,000 non-appealable claims to take advantage of the amnesty scheme, 2022. An amount of Rs 2,234 crore has been collected under this scheme while arrears to the tune of Rs 6,947 crore had been waived. 


The new scheme will be in force from May 1 to October 31, 2023. It will be applicable for the arrears pending as on May 1, 2023.


Clear starts GST e-invoicing generating services for large taxpayers  Companies across the country can now generate their e-invoices under the goods and services tax (GST) on the invoice registration portal (IRP) launched by Clear.

Clear starts GST e-invoicing generating services for large taxpayers

Companies across the country can now generate their e-invoices under the goods and services tax (GST) on the invoice registration portal (IRP) launched by Clear.


Earlier, companies could generate these invoices only on the NIC portal. 

However, GSTN had launched e-invoice registration services through private IRPs earlier this year, on the recommendation of the GST Council.


Four private companies--Clear, Cygnet, E&Y and IRIS Business Ltd--were empanelled by GSTN for providing these services. Of these, Clear has now launched its IRP services.

The government expects a large number of electronic invoices to be generated through private IRPs.


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Foreign Tourists May Soon Be Able To Claim Tax Refund On Departure, Says Financial Express Report

Amnesty for pre-GST tax arrears extended in Maharashtra

Clear starts GST e-invoicing generating services for large taxpayers Companies across the country can now generate their e-invoices under the goods and services tax (GST) on the invoice registration portal (IRP) launched by Clear.