No Replenishment of Gold in GST Refund Cases
[Notification No. 78/2018 -
Customs dated 29th November, 2018]
In exercise of the powers conferred by sub-section (1) of
section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being
satisfied that it is necessary in the public interest so to do, hereby makes
the following further amendments in the notification of the Government of India
in the Ministry of Finance (Department of Revenue) No. 57/2000-Customs dated the 8th May, 2000 published in the
Gazette of India, Extraordinary, Part II, Section 3, Sub-Section (i) vide number G.S.R. 413 (E), dated the 8th May, 2000,
namely:-
2.
In the said notification, after the
second proviso, the following proviso shall be inserted, namely:-
"Provided further that no replenishment
of the gold or silver shall be available to the exporter where the exporter
avails, in respect of exported product –
(i)
Cenvat credit on inputs under the Central Excise Act,1944; or
(ii)
input tax credit on
inputs or services or both under Chapter V of the Central Goods and Services
Tax Act, 2017; or
(iii)
refund of input tax
credit or refund of integrated tax under section 54 of the Central Goods and
Services Tax Act, 2017.”
(F. No.
DGEP/G&J/05/2017)