GST TRANSACTION VALUE UNDER GST -REFUND UNDER ZERO RATED SUPPLY

[MAHESHA MS]

Sir/Madam,

We had applied for refund under export of goods with out payment of tax and we had consider invoice value ( ex 100 $ *60 = 6000 in shipping bill also reflected invoice value 100 $*60=6000) but GST officer had issue partial rejection order since they were consider FOB value in shipping bill.

Please clarify the above at the earliest.

[KASTURI SETHI]

What percentage of refund has been rejected ?

[PAWAN KUMAR]

Dear sir,

Request to plz provide break up of invoice and transactions details.

[MAHESHA MS]

Dear Sir,

Example -They are consider 95 $ 60=5700 since 5$ is freight charges

[KASTURI SETHI]

Refund of tax paid on amount of freight is sanctioned and credited into Electronic Credit Ledger and not in cash. Freight is incurred up to the port and not beyond port.

[PAWAN KUMAR]

dear Sir,

refund is granted only on FOB value which will be pure amount exclusive of freight and insurance.

AI Summary

Refund calculation under GST: cash refunds for zero rated exports attach to FOB value; freight tax goes to credit ledger.
Refund entitlement for zero rated exports without payment of tax depends on valuation: cash refund is confined to the FOB value shown in the shipping bill, exclusive of freight and insurance, while tax attributable to freight up to the port is not refunded in cash but credited to the Electronic Credit Ledger.