Export of Goods and ITC
This query is : Resolved
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30 April 2022
While exporting of Goods , is it require any reversal on Input tax credit?
Iam trader and I have also an exporter of goods. For the purpose i have buy goods from my supplier and claim ITC on the same. While exporting these goods i have not paid any GST among that. Is there any issue in that. I have use these ITC for set off my taxable supply.
Iam trader and I have also an exporter of goods. For the purpose i have buy goods from my supplier and claim ITC on the same. While exporting these goods i have not paid any GST among that. Is there any issue in that. I have use these ITC for set off my taxable supply.
30 April 2022
You have to reverse ITC related to exports and claim refund.
01 May 2022
In case I have obtain LUT is there i require ITC reversal
02 May 2022
No need of ITC reversal in such a case, claim ITC refund in case balance ITC left over.
02 May 2022
Ok. I have one more doubt , in case of merchant export i have issue invoice at a concessional rate of .1 % , in this case is there any reversal of ITC required
1. When I have obtain LUT
2. Not obtain LUT
1. When I have obtain LUT
2. Not obtain LUT
02 May 2022
No reversal of ITC required in both the cases.
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