TaxTMI 
TaxTMI 
Export Of Used Capital Goods
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....xport Of Used Capital Goods<br> Query (Issue) Started By: - akula manikanth Dated:- 19-2-2020 Last Reply Date:- 20-2-2020 Goods and Services Tax - GST<br>Got 3 Replies<br>GST<br>Dear All, Greetings !....
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....! We have imported some machinery in Oct 2019 UK & credit taken on based on the bill of Entry filed in same month GSTR-3B. Now due to some issues we are sending back machinery to UK Korea. Now we wa....
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....nt to understand whether 18(6) of CGST Act & 40 (2) CGST Rules will be applicable or Not ??? or With the LUT we can export the machinery without payment of GST ??? Please clarify me which one is corr....
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....ect. Reply By KASTURI SETHI: The Reply: Section 18 (6) of CGST Act read with Rule 40(2) of CGST Rules is applicable. Yes, you can export with LUT. Reply By akula manikanth: The Reply: Dear Kasturi....
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.... Sir, Thanks for information further to understand this when i have option to export with LUT thethere is no taxes to pay under GST. If there is no taxes to pay how Sec 18(6) of CGST act read with R....
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....ule 40(2) will apply ?? Please clarify. Reply By KASTURI SETHI: The Reply: Dear Querist, You have misunderstood. Supply is involved. Tax is involved. You are required to pay tax at depreciated va....
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....lue inasmuch as you have used the said capital goods for about five months. Read carefully again.<br> Discussion Forum - Knowledge Sharing ....