TaxTMI 
TaxTMI 
Export sales return and re -export
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....xport sales return and re -export<br> Query (Issue) Started By: - Sooraj B Dated:- 14-1-2025 Last Reply Date:- 18-1-2025 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>An exporter exported goods on payment of IGST and received refund of the IGST paid. However, subsequent to the export, the goods were returned back to India by the customer due to quality issues. The exporter cleared the go....
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....ods without payment of import duty under the re-export option by furnishing a bond and then re-exported the goods under LUT. In the meanwhile, the exporter paid back through DRC-03, the IGST refund received, as he thought that since the goods were sent back, he had to pay back the IGST refund received. Was the exporter right in paying back the IGST refund received ? Can the exporter now apply for ....
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....refund of the IGST paid through DRC-03? Kindly share your views . Reply By KASTURI SETHI: The Reply: Ultimately the goods were exported without payment of duty under LUT. Undisputed fact. The exporter was right in paying back the refund of IGST. Not entitled to refund of IGST paid back through DRC-03. Eligible to claim refund of unutilized ITC under Section 54 (3) (i) of CGST Act read with Se....
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....ction 16 of IGST Act. Reply By Ganeshan Kalyani: The Reply: I agree with the view of Sri Kasturi Sir. Reply By Sooraj B: The Reply: Thank you Sirs for sharing your views . Reply By RaamSrinivasan Kalpathi: The Reply: To further add, the amount of IGST refund received which was paid back through DRC-03 must also carry interest u/s.50. Also, the exporter can always adjust the ITC on the inpu....
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....ts exported under LUT and use it for future export with payment or domestic supplies. Thanks<br> Discussion Forum - Knowledge Sharing ....