Rule 96A of CGST Rules, 2017

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....ule 96A of CGST Rules, 2017<br> Query (Issue) Started By: - RaamSrinivasan Kalpathi Dated:- 24-12-2024 Last Reply Date:- 29-12-2024 Goods and Services Tax - GST<br>Got 5 Replies<br>GST<br>We had raised an Engineering Services Invoice for our overseas client on 10-Oct-24 under LUT. On 23-Oct-24 the client cancelled the Order on account of design deficiency and we issued a Credit Note to the said cl....

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....ient for an equal amount. Both the e-invoice and credit note were reported in GSTR-1 in the same month. Will provisions of Rule 96A kick in? Do we still have to remit GST to the department with interest u/s. 50 in Form DRC-03? Thanks Reply By Manoj Thakur: The Reply: No, if you have filed credit note in table 9B of GSTR-1 Reply By RaamSrinivasan Kalpathi: The Reply: I am delighted at the promp....

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....t reply. Would the answer be the same in the following situations, viz. Date of e-invoice - 01-Oct-23 and date of credit note 25-Oct-24 Date of e-invoice - 20-Nov-23 and date of credit note 15-Apr-24 Would like to comprehend the sanctity of Rule 96A(1)(b) (15 days from the end of one year) vs. Sec.34(2) deadline of 30th November. Thanks in advance Reply By Ganeshan Kalyani: The Reply: Sir, c....

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....redit note date in both the scenario is within the timeline prescribed u/s 34. Otherwise also tax was not paid on export since it being under LUT. Reply By Manoj Thakur: The Reply: Probably you&#39;re trying to choose between Rule 96A(1)(b) (15 days from the end of one year) vs. Sec.34(2) deadline of 30th November. Earlier one is the obvious choice. Reply By Shilpi Jain: The Reply: Once its an....

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.... export under LUT, no requirement of payment of tax or interest, assuming no refund has been claimed.<br> Discussion Forum - Knowledge Sharing ....