The Central Board of Indirect Taxes and Customs (CBIC) Wednesday extended the basic customs duty and integrated goods and service tax exemptions for export oriented units, by a year till March 31, 2022.
The Board also made it mandatory for a GST taxpayer having turnover of more than Rs 5 crore in the preceding financial year,to furnish 6 digits HSN Code on invoices issued for supplies.
The change has been made effective from April 1, 2021.
The Board also extended the exemption from integrated tax and compensation cess on goods imported against authorisations under Advance Authorisation and export promotion capital goods (EPCG) schemes, till March 31, 2022. …
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