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The Government may, on the recommendations of the Council, notify certain supplies of goods as deemed exports, where goods supplied do not leave India, and payment for such supplies is received either in Indian rupees or in convertible foreign exchange, if such goods are manufactured in India.
147.1. Introduction
This section deals with notification of certain supplies of goods as deemed exports upon recommendation by the GST Council.
147.2. Analysis
The notified goods would be deemed to be exported although they do not leave India and payments are received in Indian rupees or convertible foreign exchange.
147.3. Comparative Review
This is comparable to the concept of deemed exports in the Foreign Trade Policy and attendant export benefits/incentives are extended.
147.4 Related provisions
Section 2(39) of the CGST Act defines the term ‘deemed exports”. This would be relevant for extending refund benefit under section 54 of the CGST Act.
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