Export of Goods with or without payment of GST

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....xport of Goods with or without payment of GST<br>By: - Chethan Kumar<br>Goods and Services Tax - GST<br>Dated:- 19-7-2021<br><br>An attempt is made to identify the Differential Treatment in GST law with respect to Export of Goods with or without payment of GST Why Differential Treatment: Sl. No. Area of difference Refund of ITC on Export of Goods without payment of Tax Refund of ITC on Export....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... of Goods with payment of Tax 1. LUT/Bond Required and to file FORM GST RFD-11 Not required 2. Refund Application Application in Form GST RFD-01 S B is deemed to be refund application 3. Filing of declarations and undertakings S. 16(2)(c), S. 42(2) r. 91(1), r.96B, etc.. No such declarations and undertakings 4. Turnover of zero-rated supply of goods Value restricted to 1.5 times th....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e value of like goods domestically supplied No such restriction 5. Turnover of Zero rated supplies - Invoice Value Vs S B Value Lower of Invoice value or SB value Invoice Value 6. ITC on Capital Goods Not allowed as refund Allowed as refund ! 7. Realisation of export proceeds If not realised - Recovery of refund in terms of rule 96B If not realised - &hellip;&hellip;&hellip;&hellip;.?....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... Whereas, same exporter may have both scenarios and in both the cases goods are exported and convertible foreign exchange is earned But for refund of GST - Why Differential Treatment ! You are welcomed to add or correct &hellip;<br> Scholarly articles for knowledge sharing by authors, experts, professionals ....