TaxTMI 
TaxTMI 
Export of goods on payment of GST
X X X X Extracts X X X X
X X X X Extracts X X X X
....xport of goods on payment of GST<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 15-7-2022 Last Reply Date:- 17-7-2022 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>In case of export of goods on payment of GST, the value recorded in the GST invoice should normally be the transaction value as determined under section 15 of the CGST Act read with the rules made thereunder. 1) ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....Whether the value should be FOB or CIF? 2) If FOB, whether freight charges from factory to Port and from Port to foreign customer should form part of value? 3) If CIF, whether freight charges from factory to Port and from Port to foreign customer should form part of value? Reply By Ganeshan Kalyani: The Reply: Sir, the value should be FOB. Reply By Amit Agrawal: The Reply: With due respect a....
X X X X Extracts X X X X
X X X X Extracts X X X X
....nd in my humble view, even for export of goods on paying of IGST, value needs to be determined u/s 15 of the CGST Act, 2017 read with applicable rules. And in terms of Section 8 (a), charges recovered (if any) by the supplier towards freight, will be part of value of goods to be exported. Values as FOB / CIF (under Customs) has no bearing on 'Value' on which supplier is liable to pay IGS....
X X X X Extracts X X X X
X X X X Extracts X X X X
....T while exporting goods, in my humble view. These are strictly personal views of mine and the same should not be construed as professional advice / suggestion. Reply By Amit Agrawal: The Reply: In support, I wish to rely on the 'Explanation' inserted in sub-rule (4) vide NOTIFICATION NO. 14/2022-Central Tax, dated 5th July, 2022. This explanation, in my view, proves that FOB value decl....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ared in the Shipping Bill or Bill of Export form and the value declared in tax invoice can be different simply because we are dealing with 'Values' in two different acts. Most importantly, similar explanation was NOT added (and actually, same is now conspicuous by its absence) in rule 96 of the CGST Rules, 2017. And query raised here is covered u/r 96. These are strictly personal views o....
X X X X Extracts X X X X
X X X X Extracts X X X X
....f mine and the same should not be construed as professional advice / suggestion. Reply By Amit Agrawal: The Reply: *......in sub-rule (4) of rule 89... in first Para of above post at Serial No. 3.<br> Discussion Forum - Knowledge Sharing ....