We are a merchant exporter dealing in minerals with Nepal. Since our product has no excise, It was simple in previous regeim.
Now please advice me how to prepare export invoice. Shall I need to give LUT/BOND to custom/excise department
or I can export by charging 5 % IGST & getting its credit by submitting shipping bills & bill of lading to authority.
Mineral Exporter to Nepal Queries GST Invoicing: Use LUT/Bond or Charge 5% IGST and Claim Credit? A merchant exporter dealing in minerals with Nepal inquired about preparing export invoices under the new GST regime, questioning whether to use a Letter of Undertaking (LUT) or bond, or to charge 5% IGST and claim credit. An expert advised that exporting can be done with a bond to avoid IGST, or by paying IGST and claiming a refund. Export invoices should be marked accordingly, and further guidance can be obtained from department help desks. Another expert noted that exports to Nepal are treated like exports to other countries. (AI Summary)
TaxTMI 
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