Export refund

[KARAN VERMA]

Sir

In case of export refund RFD-01, shipping bill or Invoice value which is to be taken in Turnover of zero rated supplies column.

AI Summary

GST Export Refunds: Use FOB Value for Zero-Rated Supplies Turnover, CBIC Circular Suggests Lower Value Calculation In a discussion on export refunds under GST, one participant inquired about whether the shipping bill or invoice value should be used in the turnover of zero-rated supplies. Respondents agreed that the Free on Board (FOB) value should be used, citing practical experience where refunds are sanctioned based on this value. One participant shared a past case where the entire refund was granted in cash after an appeal, despite the department's initial partial cash refund based on FOB value. Another participant referenced a CBIC circular suggesting the lower value between the GST invoice and shipping bill should be used for refund calculations.