IMPORT AND EXPORT OF GOODS UNDER GST?
IMPORTS:- will be treated as inter-state supplies and IGST will be levied. Set-off of GST paid on imports is available.
EXPORTS:- will be treated as Zero-Rated supplies. No tax on exports will be leviable. Exporter will have an option to either pay tax on the output and claim refund of IGST or export under Bond without payment of IGST and claim refund of Input Tax Credit (ITC).