Gst on exports

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

04 July 2017 Dear Experts,

I am Textile dealer with GST rate of 5%, I want to know while making export sales do i need to collect IGST output and issue the invoice and claim refund of IGST output .

I am getting confused as i have read that you need to pay tax and you will get full refund back within 7 days after filing of monthly return.

Also highlight what does export under bond means, how will it benefit my Trading.

Thanks in advance

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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04 July 2017 You can export under bond without paying IGST and claim for refund of GST paid on your purchases for exports within 7 days .

Querist : Anonymous

Querist : Anonymous (Querist)

05 July 2017 Thanks for your reply Sir,

Kindly highlight that when i make Export sales from the stock on which i have already taken ITC benefit on my purchases should i make Export sales with Bond or directly issue export sales invoice without adding IGST.

My understanding is that only if your purchase and your expenses like packing and transportation is dedicatedly for Export in that case only we need to claim for the refund, if your Export sale is only on order basis and you sell out of your Stock where you have already claimed your ITC at the time of purchase i can make the Export sale with out charging any GST or giving a Bond, correct me if i am wrong ?

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CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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05 July 2017 You are right You can make the Export sale with out charging any GST or giving a Bond. Export is exempt from GST I don't know why they are asking for bond.