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Major News and Events of 06 November 2017

What Happened on 06 November 2017


06 November 2017 Current Events GSTN eases process for exporters to claim refunds

According to reports, the Goods and Services Tax Network (GSTN) has introduced a utility Table 6A in the Form GSTR-1 used by exporters to claim refunds. In a statement yesterday, it said Table 6A of Form GSTR1 has been introduced on the GST portal.

Table 6A of Form GSTR1 allows taxpayers to file export related data for the period concerned that permits processing of the tax refund on the basis of declaration made under Form GSTR 3B and Table 6A of GSTR-1.

An exporter can claim refund of Integrated GST (IGST) paid at the time of export by filling the details of the shipping bill and tax paid GST invoice in his Form GSTR1 in the relevant month.

The shipping bill filed by an exporter with customs authorities is considered to be an application for refund of the integrated tax paid on the goods exported out of India.

The table can be filed from the returns section of the GST Portal. The refund amount would be paid either through a credit to the exporter's bank via ECS or by cheque.


Indian women's hockey team lifts Asia Cup title

India beat China 5-4 in Women's Asia Cup final held at Kakamigahara in Japan. The match was a nail-biting one. At full time, both teams were level One-One. Navjot Kaur in the 25th minute scored for India and was equalised by Tiantian Luo of China when she converted a penalty corner in the 47th minute.

With this win India Qualifies for 2018 World Cup. South Korea secured third place with a 1-0 win over Japan. The last time India won the Women's Asia Cup title was in 2004. This is the second Asia cup title.


GSTN eases process for exporters to claim refunds

According to reports, the Goods and Services Tax Network (GSTN) has introduced a utility Table 6A in the Form GSTR-1 used by exporters to claim refunds. In a statement yesterday, it said Table 6A of Form GSTR1 has been introduced on the GST portal.Table 6A of Form GSTR1 allows taxpayers to file export related data for the period concerned that permits processing of the tax refund on the basis of declaration made under Form GSTR 3B and Table 6A of GSTR-1. An exporter can claim refund of Integrated GST (IGST) paid at the time of export by filling the details of the shipping bill and tax paid GST invoice in his Form GSTR1 in the relevant month.The shipping bill filed by an exporter with customs authorities is considered to be an application for refund of the integrated tax paid on the goods exported out of India.The table can be filed from the returns section of the GST Portal. The refund amount would be paid either through a credit to the exporter's bank via ECS or by cheque.

Indian women's hockey team lifts Asia Cup title

India beat China 5-4 in Women's Asia Cup final held at Kakamigahara in Japan. The match was a nail-biting one. At full time, both teams were level One-One. Navjot Kaur in the 25th minute scored for India and was equalised by Tiantian Luo of China when she converted a penalty corner in the 47th minute. With this win India Qualifies for 2018 World Cup. South Korea secured third place with a 1-0 win over Japan. The last time India won the Women's Asia Cup title was in 2004. This is the second Asia cup title.




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