TaxTMI 
TaxTMI 
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.
Export refund
11 Dec 2021 
7 Replies 
2016 Views Asked by
Export refund calculation: use FOB value and the lower of GST invoice or shipping bill to determine eligible refund.
Refunds for zero-rated exports are generally sanctioned on the FOB value; freight and insurance up to the port are treated separately (often as credit). Administrative practice compares the GST invoice value and the shipping bill value and uses the lower of the two to calculate the eligible refund. An excise-era appeal achieved full cash refund on invoiced value including die amortization, but department practice commonly limits cash rebate to FOB with re-credit for other elements. (AI Summary)
Refunds for zero-rated exports are generally sanctioned on the FOB value; freight and insurance up to the port are treated separately (often as credit). Administrative practice compares the GST invoice value and the shipping bill value and uses the lower of the two to calculate the eligible refund. An excise-era appeal achieved full cash refund on invoiced value including die amortization, but department practice commonly limits cash rebate to FOB with re-credit for other elements. (AI Summary)