TaxTMI 
TaxTMI 
TaxTMI 
Goods sent outside India on returnable basis
X X X X Extracts X X X X
X X X X Extracts X X X X
....oods sent outside India on returnable basis<br> Query (Issue) Started By: - Kaustubh Karandikar Dated:- 14-4-2023 Last Reply Date:- 15-4-2023 Goods and Services Tax - GST<br>Got 7 Replies<br>GST<br>Goods are sent outside India for demonstration / Display on returnable basis. Can it be sent under a Delivery Challan without payment of GST and without following LUT procedure? Reply By Padmanathan Ko....
X X X X Extracts X X X X
X X X X Extracts X X X X
....llengode: The Reply: As per section 2(5) of IGST Act, "export of goods" with its grammatical variations and cognate expressions, means taking goods out of India to a place outside India; As per the definition, it seems even supply is not required. If goods are "taken" out of India, it shall be export of goods. Accordingly, LUT and invoice will be required. Pls see the compliance as pe....
X X X X Extracts X X X X
X X X X Extracts X X X X
....r Customs Act also Reply By Kaustubh Karandikar: The Reply: thanks padmanathan ji for your advice Reply By Shilpi Jain: The Reply: Zero rated supply. 16. (1)"zero rated supply" means any of the following supplies of goods or services or both, namely:-- (a) export of goods or services or both; or (b) supply of goods or services or both to a Special Economic Zone developer or a Special Econom....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ic Zone unit. For it to be a zero rated supply, it has to be a supply first. In the present case no supply so cannot be done under LUT and cannot be regarded as a zero - rated supply. Can be transported on a DC. There was also a circular issued in this regard. Circular No. 108/27/2019-GST dated 18.07.2019 Also see press release https://pib.gov.in/PressReleasePage.aspx?PRID=1579708 Reply By Kau....
X X X X Extracts X X X X
X X X X Extracts X X X X
....stubh Karandikar: The Reply: Thanks Shilpi ji, the circular quoted by you will be of great help. Reply By Amit Agrawal: The Reply: Goods - on which ITC availed - were not lost by fire, but the 'intermediary goods during manufacturing' / 'finished goods after manufacturing' were lost. So, restriction u/s 17 (5) (h) does not apply. This is more so, in absence of any machinery prov....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ision prescribed for calculation of ITC involved in these events. These are ex facie views of mine and the same should not be construed as professional advice / suggestion. Reply By Amit Agrawal: The Reply: Please ignore my last post above, as it was mistakenly put here. Apology for the inconvenience caused! Reply By Padmanathan Kollengode: The Reply: Thank you Shilpi Ma'am, Dear querist....
X X X X Extracts X X X X
X X X X Extracts X X X X
...., I stand corrected and agree with Shilpi Ma'am. The circular cited by Ma'am is directly on the issue.<br> Discussion Forum - Knowledge Sharing ....