Zero-rated supply: sending goods abroad for exhibition alone does not qualify; invoice arises on sale or on expiry of the prescribed return period. Sending specified goods abroad for exhibition or on consignment without consideration does not constitute a supply and therefore is not a zero rated supply; such movements are treated as sale on approval, require maintenance of prescribed records and accompaniment by a delivery challan, and do not require bond or LUT. Tax invoices must be issued for quantities sold abroad at the time of sale and for unsold/ unreturned quantities on expiry of the stipulated period; refunds of input tax credit may be claimed only after issuance of the tax invoice and if otherwise eligible under the refund provisions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Zero-rated supply: sending goods abroad for exhibition alone does not qualify; invoice arises on sale or on expiry of the prescribed return period.
Sending specified goods abroad for exhibition or on consignment without consideration does not constitute a supply and therefore is not a zero rated supply; such movements are treated as sale on approval, require maintenance of prescribed records and accompaniment by a delivery challan, and do not require bond or LUT. Tax invoices must be issued for quantities sold abroad at the time of sale and for unsold/ unreturned quantities on expiry of the stipulated period; refunds of input tax credit may be claimed only after issuance of the tax invoice and if otherwise eligible under the refund provisions.
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