RoDTEP rates not decided, MEIS for exports may continue till end-March 2021 | Business Standard News

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Any registered user under GST who wishes to generate IRN needs to register on e-invoice system using his GSTIN

The government had said that the MEIS will be replaced with the RoDTEP scheme with effect from January 1, 2021. Have the details of this scheme been announced?

No. The government had sought details from exporters to enable calculation and fixation of RoDTEP rates. But, no rates have been notified for any export product so far. It appears that the MEIS for most export products will continue till end-March 2021.

We had exported certain goods, but realised less foreign exchange than the value declared in the shipping bill. How to adjust this shortfall for the purpose of calculating our entitlement under various schemes?

In case of a shortfall in foreign exchange realisation with respect to the shipping bill FOB value, pro rata distribution of realised foreign exchange against each export item will be made by the system itself. Suppose a shipping bill contains three export products (A, B and C) with FOB values of $40, $60 and $80, respectively (total FOB value $180). Now, if the total NFE realised according to e-BRC is $90, then by pro-rata calculation, the benefits on the three products will be calculated on $20, $30 and $40 respectively.

We intend to import certain goods for jobbing under notification 32/97-Cus April 1, 1997. Are all duties exempted under this notification, as in the case of advance authorisation?

No. Under the said notification 32/97-Cus, only the basic duty of customs and the additional duty of customs leviable under Section 3(1), 3(3) and 3(5) of the Customs Tariff Act, 1975 are exempted.

In case of a real estate project comprising residential and commercial portions (more than 15 per cent), how is the minimum procurement limit of 80 per cent to be tested, evaluated and complied with where the project has single RERA registration and a single GST registration and it is not feasible to get separate registrations due to the peculiar nature of buildings?

The promoter must apportion and account for the procurements for residential and commercial portions on the basis of the ratio of the carpet area of the residential and commercial apartments in the project.

Our turnover is more than Rs 100 crore and less than Rs 500 crore. From January 1, we are required to follow the e-invoice system. We are already registered in the GST portal. Are we required to register again in the e-invoice system portal?

Yes, there is a need for separate registration again on the e-invoice system portal. Any registered user under GST who wishes to generate IRN needs to register on e-invoice system using his GSTIN. Once GSTIN is entered, the system sends an OTP to his mobile number registered with the GST portal and after he authenticates it, the system enables him to generate his/her user name and password for the e-invoice system. After generation of username and password of his/her choice, he/she may proceed to make entries to generate IRN.

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