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.
Pharmaceutical machinery trader seeks clarity on GST for export transactions: Input Tax Credit or refund options explored. A company involved in manufacturing and trading pharmaceutical machinery is seeking clarification on the Goods and Services Tax (GST) implications for trading exports. Previously operating under B1 Bond-CT-1, they now need to purchase machinery for trading exports with GST payments. The query is whether they can claim input tax credit (ITC) on CGST, SGST, and IGST paid for trading export machinery against their domestic sales tax liabilities or apply for a refund. Responses indicate both options are viable, with a recommendation to avail ITC, considering restrictions between SGST and IGST. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
