gst exports

[Madhavan iyengar]

We have exported some goods in Sept 17 for rs. 1 crores in and also claimed refund etc as per gst provisions

Now foreign vendor is raising a credit note on us for non fulfilment of some conditions of product which was exported as per local laws of their country and he will raise credit note against the export invoice for Rs.. 25 lacs in January 2019

In above transactions what will be gst implication for the exporter

[KASTURI SETHI]

Are you thinking towards Schedule-II Entry No.5 Clause (e) of CGST Act ?

[YAGAY andSUN]

In GST regime, the credit note and debit note can only be issued by the supplier of goods & services.

AI Summary

Credit note issuance must be by supplier under GST and affects export invoice adjustments and refund claims. Issue: a foreign buyer proposes a credit note against a prior export invoice for non fulfilment. Operative point: credit/debit notes can only be issued by the supplier under GST; respondents also note possible relevance of Schedule II Entry No.5(e) of the CGST Act and that adjustments to export documentation, refund claims or tax records must follow GST procedural mechanisms for invoice alteration and accounting.