ITC is required to be reverse in case of export of Goods outside India on FOC basis.

ITC is required to be reverse in case of export of Goods outside India on FOC basis. https://www.taxtmi.com/forum/issue?id=120776 FOC exports taken out of India qualify as zero-rated when they constitute a supply; transfers to related or distinct persons fall under Schedule I and therefore attract zero-rated treatment with no ITC reversal, subject to compliance. FOC disposals to unrelated persons that do not amount to a supply are treated as non-supply gifts or samples and require reversal of attributable ITC. Exporters must follow bond/LUT or IGST payment/refund routes, maintain export documentation, and apply valuation/open market value rules to support zero-rated status. en-us Wed, 25 Feb 2026 14:46:13 +0530 Mon, 02 Mar 2026 05:06:28 +0530 TaxTMI RSS Generator ITC is required to be reverse in case of export of Goods outside India on FOC basis. https://www.taxtmi.com/forum/issue?id=120776 FOC exports taken out of India qualify as zero-rated when they constitute a supply; transfers to related or distinct persons fall under Schedule I and therefore attract zero-rated treatment with no ITC reversal, subject to compliance. FOC disposals to unrelated persons that do not amount to a supply are treated as non-supply gifts or samples and require reversal of attributable ITC. Exporters must follow bond/LUT or IGST payment/refund routes, maintain export documentation, and apply valuation/open market value rules to support zero-rated status. Discussion-Forum GST Wed, 25 Feb 2026 14:46:13 +0530 https://www.taxtmi.com/forum/issue?id=120776