IEC

All about Import Export Code

Import Export Code also known as IEC Code which is issued by the DGFT (Director General of Foreign Trade). When an individual want to start an Import or Export business in India, then the Import Export Code is needed to be obtained. Without this code it is not possible to start any type of business being dealt in Indian Geographical area. Department of Commerce sets all the rules and regulation… Read More »All about Import Export Code

All About Duty Credit Scrips (DCS)

In India’s Foreign Trade Policy, the term scrip has reference as ‘duty credit scrips’. DCS also known as Duty credit scrip is the most attractive export promotion incentive given by the government to exporters. The objective and purpose of such schemes is to encourage exports by giving concessions to import tariff to exporters. Under the scrip, exporters can draw an import duty concession to a fixed percentage of their export… Read More »All About Duty Credit Scrips (DCS)

IGST Refund to Exported| Mismatch Between GSTR-1 & GSTR-3B

GSTR-3B is commonly termed as the monthly summary return filed by a taxpayer and discloses supplies made during the month along with GST to be paid, ITC claimed etc., and also makes a provision for tax payment(if any) for the relevant month. GSTR-1 is a monthly or you can say quarterly return filed by taxpayers to disclose details of their supplies which are outward for the month along with their… Read More »IGST Refund to Exported| Mismatch Between GSTR-1 & GSTR-3B