IGST ON EXPORT
This query is : Resolved
17 July 2017
If a supplier wish to carry out export transaction with payment of IGST, then does he need to charge and collect IGST amount from recipient or he should pay it from his pocket?
please suggest, thank you in advance
17 July 2017
The exporter has to prepare an invoice showing the amount of IGST payable on the value of exports
The invoice shall state “SUPPLY MEANT FOR EXPORT ON PAYMENT OF INTEGRATED TAX”
The IGST liability shown on the invoice is only for presentation purpose and not required to be collected from the customer
The exporter uses the balance availed in his ITC ledgers to discharge the IGST liability shown on the export invoice. There is no cash outflow as the IGST liability is discharged by utilisation of available ITC.
The IGST liability, thus discharged, is then can be claimed as refund.
The invoice shall state “SUPPLY MEANT FOR EXPORT ON PAYMENT OF INTEGRATED TAX”
The IGST liability shown on the invoice is only for presentation purpose and not required to be collected from the customer
The exporter uses the balance availed in his ITC ledgers to discharge the IGST liability shown on the export invoice. There is no cash outflow as the IGST liability is discharged by utilisation of available ITC.
The IGST liability, thus discharged, is then can be claimed as refund.
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