AAR : Duty Free Import Authorisation (DFIA), different from ‘Duty Credit Scrips’, liable to GST

AAR holds that Duty Free Import Authorization (DFIA) licences, issued to allow duty free import of inputs that go into manufacture of products that are exported, is covered under HSN code 4907 and shall attract applicable GST; Clarifies that DFIA cannot be considered as ‘Duty Credit scrip’ as envisaged under Sr.  No. 122A of Notification No. 1/2017-Central Tax (Rate) inserted vide Notification No. 35/2017-Central Tax(Rate) even though it falls under CTH 4907; Observe...