TaxTMI 
TaxTMI 
Credit Note to foreign buyer
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....redit Note to foreign buyer<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 27-9-2019 Last Reply Date:- 28-9-2019 Goods and Services Tax - GST<br>Got 2 Replies<br>GST<br>XYZ supplied goods....
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.... for export without payment of GST under LUT. The customer made the payment against the same at an early date than the stipulated and therefore asked for a reduction in the amount to be paid by him to....
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.... XYZ. Therefore, XYZ issued a credit note with a description 'Towards interest cost of early payment'. Is XYZ liable to pay GST under reverse charge on the amount of credit note? Reply By Rajagopalan....
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.... Ranganathan: The Reply: Sir, Since the goods are supplied for export without payment of IGST, the supplier can issue Financial/Commercial credit note without GST. Since Financial/Commercial credit ....
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....note without GST is to be issued no GST is payable. Moreover as mentioned by you the credit note is issued towards interest cost of early payment. Reply By KASTURI SETHI: The Reply: I am also of the....
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.... same views as opined by Sh.Ranganathan, Sir.<br> Discussion Forum - Knowledge Sharing ....