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CBIC should clear the air quickly on pre-import issues

It is difficult to understand why the government has not yet come out with a circular prescribing the procedures that the exporters have to follow.

Apparel, drugs, and leather exporters under scanner for tax scheme misuse

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3 min read Last Updated : Jun 04 2023 | 11:28 PM IST

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On April 28, the Supreme Court, in the case of Cosmo Films Ltd [2023 (5) Centax 286 (SC)], upheld the pre-import condition in respect of imports made between October 13, 2017, and January 9, 2019, without payment of Integrated Goods and Services Tax (IGST) under advance authorisations.

The court gave the exporters who had violated the pre-import condition six weeks to regularise the matter by payment of IGST on their imports and claim refund or input tax credit (ITC) of the same. The court also instructed the government to prescribe the procedure to be followed, through a circular. More than five

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