Special Additional Duty refund can be claimed by importers trader who imported goods into India and sold them as it is i.e. goods didn’t lose their identity.
In nutshell, importer trader is allowed to claim Special Additional Duty Refund only after sale of imported goods on which central sales tax (CST) or Value Added Tax (VAT) amount has been paid already.
Refund is not available to manufacturers who consume these goods in manufacturing process or end consumers of goods.
The abbreviation AEO stands for “Authorised Economic Operator.”
It is a status granted to an economic operator as a concept that is based on the partnership between customs and business.
The AEO is used to determine a reliable and trust-worthiness of the economic operator.
Special Valuation Branch is a Branch of the Custom House, specializing in investigating the transactions involving relationship between the supplier and the importer and certain other special features like Technical Collaboration between the parties, etc.
Special Valuation Branch examines the influence of relationship on the invoice value of the imported goods in respect of transactions between related parties.
In respect of Technical Collaboration Agreements and Joint Venture Agreements, the terms and conditions of these agreements are examined to arrive at the conclusion, whether the existence of such agreement has influenced the invoice value of the imports.
An inverted duty refund is a process of getting an accumulated fund on tax. When a customer buys raw material for high GST and sells its finished good for a low GST amount. In this case, the customer can get an inverted duty refund under GST. Many processes take place while filing the inverted duty refund form under GST. AFS is a leader in filing inverted duty refunds without errors.
The taxpayers have the right to get their accumulated ITC refund. For an ITC accumulation refund, the taxpayer should be eligible to fill the RDF-01 form under the GST portal. The taxpayer should do this ITC accumulation refund process within two years. AFS helps in do all the formalities included in the ITC accumulation refund.
Accumulation of GST credit will happen when the tax paid on raw materials is more than tha output finished product. To get the accumulated GST refund, the taxpayer should fill the RDF-01 form without errors. AFS will help out to get the accumulated GST refund. To get the accumulated GST refund taxpayer should have an invoice statement with the date, time, and shipment details.
AFS helps customers to export their goods without payment of tax under the method of LUT refund. Entrepreneurs may face difficulties while filing the RFD-11 application. It includes many formalities and needs perfect data for the approval of the LUT refund registration under GST. This Letter of Undertaking method remains from the traditional days. But, many entrepreneurs unused the LUT because of a lack of knowledge and headache procedures while registering. AFS is glad to help customers to solve their issues and extend their revenue.
AFS focuses on increasing the growth of economics by helping SEZ suppliers with GST refunds. GST refund for SEZ suppliers customer must be eligible to file RFD-01 form under CGST rules. There are a lot of benefits to extending investors in the Special Economic Zone. It will increase employment opportunities as well as the economic growth of the country. Customers will face an exceedingly challenging process while GST refund for SEZ suppliers. AFS will take this pressure from customers and help to process the GST refund for SEZ suppliers.
Export of service under GST is the process of trading goods or services from a home state to another state or country. AFS will help clients with the registration of export of service under GST. We will take care of all the processes while registering the export of service under GST. AFS feels happy to make our customer’s businesses fly without boundaries by registering their export service under GST.
AFS has appreciable potential in solving the issue of the IGST refund pending. IGST refund paid on goods is a trouble-free process. However, while this process of IGST refund, many applicants find it is in the pending stage. IGST refund pending will occur for technical reasons that are a common issue faced by many customers. People find it difficult to solve this problem. AFS delighted to provide the solution for this IGST refund pending.