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
Exporter Questions GST Impact of Foreign Vendor's Credit Note for 2017 Export; Schedule-II Entry No.5 Clause (e) Discussed An exporter raised a query regarding the GST implications of a credit note issued by a foreign vendor for non-fulfillment of conditions on goods exported in September 2017. The vendor plans to issue a credit note for Rs. 25 lakhs against the export invoice in January 2019. One response questioned whether Schedule-II Entry No.5 Clause (e) of the CGST Act applied, while another clarified that in the GST regime, only the supplier of goods and services can issue credit and debit notes. (AI Summary)
TaxTMI 
TaxTMI 
TaxTMI 
