Zero-Rating in GST: Boosting Exports and Economic Growth Through Tax Incentives

• Exports are zero-rated under the GST regime, allowing for Input Tax Credit on goods and services supplied outside India
• Zero-rating ensures goods are supplied without VAT or GST, fostering competition and increasing exports
• Countries like the Netherlands, Canada, EU, Australia, China, Singapore, and India have adopted zero-rating for exports
• Benefits of zero-rating include increased competition, investment in SEZs, higher exports, forex generation, and balancing of balance of payments
• IGST Act, 2017 allows for zero-rating of exports and supplies to SEZs, with ITC available on such supplies

Source: metalegal.in

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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