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When is the Rebate u/s 87A permissible? What is the allowable amount of rebate under the said section? |
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Answer» Exports under the GST regime are zero-rated i.e. tax is payable @ 0%. (1) Zero rating is advantageous to the exporter as compared to exemption of other supplies. While in an exempted transaction, the tax paid on input lapses i.e. it cannot be set off, the exporters are however granted refund of taxes paid by them on their inputs. |
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