TaxTMI 
TaxTMI 
EXPORT OF GOODS
X X X X Extracts X X X X
X X X X Extracts X X X X
....XPORT OF GOODS<br> Query (Issue) Started By: - RAJESH LANGALIA Dated:- 6-6-2024 Last Reply Date:- 13-6-2024 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>One GST registered supplier has received an order of supply of steel plates (along with some specific cutting work on steel plates as required by the buyer using CNC machine) from a foreign buyer and it will pay the proceeds in converti....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ble foreign exchange. The goods will be made available ex-factory i.e. buyer will take the goods from factory on its own and will send it outside india. The question is whether this supply will be considered as an export for the Indian registered supplier? please reply with references to law. thanks in advance . Reply By RaamSrinivasan Kalpathi: The Reply: Export of goods is defined in Sec. 2(5)....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... IGST Act, which simply states - export of goods with its grammatical variations and cognate expressions means taking goods out of India to a place outside India. Even realisation in convertible foreign currency is restricted only to services and not to goods. Two other Rules which will have a direct impact is Rule 96A and Rule 96B of CGST Rules which you may go through. Therefore cutting the long....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... story short, whether terms of export are on CIF, FOB or ex-works, all are considered as export of goods as long as the exporter possesses the GST invoice, Shipping Bill and Bill of Lading. Reply By KASTURI SETHI: The Reply: Dear Querist, This will be treated as export of goods. I support the views of Sh.Kalpahi Ji. In addition to the receipt of export proceeds, you should also emphasize on id....
X X X X Extracts X X X X
X X X X Extracts X X X X
....entification marks of goods exported. These should match with transportation docs. Thus you will be able to establish the actual exportation of the said goods. Reply By raghunandhaanan rvi: The Reply: Based on the information, a GST-registered supplier has received an export order to supply steel products to a foreign buyer on an ex-works basis, with payment received in foreign exchange. The que....
X X X X Extracts X X X X
X X X X Extracts X X X X
....stion is whether this supply qualifies as an "export." According to the information, this supply would indeed be considered an "export" because the goods are being taken to a location outside India. The goods can be exported under a LUT or by paying IGST and claiming a refund through customs. The buyer is responsible for transportation, insurance, and customs clearance costs in....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... this scenario. Reply By Shilpi Jain: The Reply: Ensure that the shipping bill is filed in the name of the Indian supplier. Reply By RAJESH LANGALIA: The Reply: I thank all of you for your sincere reply and appreciate sharing of time and knowledge for me. Thank you all once again from the bottom of my heart.<br> Discussion Forum - Knowledge Sharing ....