If I purchase a shawls @ Rs.100-00 having bill for 105=00 and export @ US$2=00 (INR 130=00).
Then we have to charge 5% on Rs,130=00 for export??
We use to get DutyDraw Back @ US$2=00 or by weight or by per pcs.
Kindly confirm process.
Regars.
nk
Narendra Kapoor (Owner) (23 Points)
09 June 2017If I purchase a shawls @ Rs.100-00 having bill for 105=00 and export @ US$2=00 (INR 130=00).
Then we have to charge 5% on Rs,130=00 for export??
We use to get DutyDraw Back @ US$2=00 or by weight or by per pcs.
Kindly confirm process.
Regars.
nk
Govind JK Kolappan
(General Manager Finance)
(64 Points)
Replied 11 June 2017
hi
while you buy the material , i suppose you buy from other state by paying the IGST
in such case you have 2 options
Option 1
Pay the IGST on export value of 130 to government assuming the IGST Rate of 18% you will pay to Governemtn 23.4
in this case the customer will be billed only with 130 - and you will receive this 2 $ in convertible forex
in this case you can use the input IGST of 5 Rs. and pay net of 18.4 and apply for refund of full out put tax of 23.4
Option 2
Do not pay anything on export as Zero rated and then apply for refund of Input credit of only Rs.5
IF you have bought from same state i.e by paying CGST / SGST then you have to only go for refund application subject to conditions
Thanks
Narendra Kapoor
(Owner)
(23 Points)
Replied 14 June 2017
THanks.
I want re clear that
I am purchasing locally in Amritsar Shawls @ Rs.100 paying supplier Rs.105 as 5% GST.
Now I export @ $2=00 what will be prodecure.I have to bill 2Rs.130=00 (US$ opprox) + 5% again is GST Rs.6.50?
1-I will get 5% back Rs.5-00 or will get back 6.50.
2-I will get back Duty Draw back as getting till now ? What will be DBK after GST.
Kindly clear and oblige.
Regards.
nk
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