IGST ON DIRECT EXPORT

[SURYAKANT MITHBAVKAR]

We are manufacturing Pharmaceutical Machinery having Domestic Sale and two type of export. i.e. Manufacturing Export & Treading Export (Earlier Under B1 Bond-CT-1)

In Manufacturing Export we have exported our Machinery and Trading export we have buying from other Manufacturing unit and export the same.

Now, in GST regime we have to buy machinery for trading export with payment of CGST/SGST/IGST (CT-1 is no more exists).

My question is that can we avail the credit of CGST/SGST/IGST of buying trading export machinery against our CGST/SGST/IGST payable on Sales in Domestic or apply for Refund.

[Himansu Sekhar]

both the things possible

[KASTURI SETHI]

No bar. It is your option. Better option is to avail ITC. Hence support the views of should.Himanshu Sha , an expert. You may be knowing restrictions between SGST and IGST etc.

AI Summary

Input tax credit on exported goods can be used against domestic tax or claimed as refund, subject to tax-head restrictions. Whether input tax paid (CGST/SGST/IGST) on purchases for trading exports may be set off against output tax on domestic supplies or claimed as a refund; advisors observed both options are available but taxpayers must observe rules governing the interaction between IGST and SGST/CGST and the conditions for cross-head set-off and refunds.