Quarterly GSTR1, IFF and export invoice under LUT
This query is : Resolved
16 March 2022
1.Export invoice under LUT -no provision to record in IFF. So has it to be reported in quarterly GSTR1? Will it be shown under table -Export invoice?
2.August invoice under LUT omitted to be reported in September Q GSTR1, but values included in HSN wise summary. Can it be included in report for Q GSTR1 of March in Export Table without including in HSN wise summary?
3.In Q2 GSTR3B Taxable value of export invoice under LUT is included in Outward taxable supplies (other than zero rated, nil rated and exempted). Should it have been shown under Outward taxable supplies (zero rated ) or Other outward supplies (Nil rated, exempted)? Please advise.
4.If it was wrongly shown, please advise how to correct it now?
2.August invoice under LUT omitted to be reported in September Q GSTR1, but values included in HSN wise summary. Can it be included in report for Q GSTR1 of March in Export Table without including in HSN wise summary?
3.In Q2 GSTR3B Taxable value of export invoice under LUT is included in Outward taxable supplies (other than zero rated, nil rated and exempted). Should it have been shown under Outward taxable supplies (zero rated ) or Other outward supplies (Nil rated, exempted)? Please advise.
4.If it was wrongly shown, please advise how to correct it now?
10 July 2024
Addressing each of your queries regarding GST and export invoices under LUT:
1. **Export Invoice under LUT**:
- If you have exported goods or services under a Letter of Undertaking (LUT), you cannot report these transactions in the Invoice Furnishing Facility (IFF) because IFF is meant only for domestic sales.
- Export invoices under LUT should be reported in your quarterly GSTR-1 return under Table 6A (Exports) of the return. Here, you will declare details of all exports made during the quarter.
2. **Omitted Invoice in Previous Quarter**:
- If an export invoice under LUT was omitted in a previous quarter's GSTR-1, but the values were included in the HSN-wise summary, you should include these details in the correct quarter's GSTR-1 under Table 6A (Exports).
- For the March quarter's GSTR-1, you can include these details in the Export Table (Table 6A) without including them again in the HSN-wise summary, as long as they were correctly reflected in the HSN summary of the quarter they belonged to.
3. **Taxable Value of Export Invoice under LUT in GSTR-3B**:
- Export invoices under LUT should ideally be shown under "Outward taxable supplies (zero rated)" in GSTR-3B, not under "Outward taxable supplies (other than zero rated, nil rated and exempted)".
- If they were incorrectly shown under the wrong category, you should adjust this in subsequent returns to ensure accuracy.
4. **Correction of Wrongly Shown Transactions**:
- To correct any errors in reporting:
- Adjust the figures in the correct sections of subsequent GSTR-3B returns. For instance, if export under LUT was wrongly shown under "Other outward supplies," adjust it in the next available GSTR-3B.
- There's no provision to amend GSTR-3B once filed. Corrections can be made in the next period's returns to rectify errors.
- Ensure to accurately report in the correct sections going forward to maintain compliance.
For precise compliance and to handle specific situations like corrections, it's advisable to consult with a GST practitioner or expert. They can provide tailored advice based on the specifics of your business transactions and help ensure accurate GST filings.
1. **Export Invoice under LUT**:
- If you have exported goods or services under a Letter of Undertaking (LUT), you cannot report these transactions in the Invoice Furnishing Facility (IFF) because IFF is meant only for domestic sales.
- Export invoices under LUT should be reported in your quarterly GSTR-1 return under Table 6A (Exports) of the return. Here, you will declare details of all exports made during the quarter.
2. **Omitted Invoice in Previous Quarter**:
- If an export invoice under LUT was omitted in a previous quarter's GSTR-1, but the values were included in the HSN-wise summary, you should include these details in the correct quarter's GSTR-1 under Table 6A (Exports).
- For the March quarter's GSTR-1, you can include these details in the Export Table (Table 6A) without including them again in the HSN-wise summary, as long as they were correctly reflected in the HSN summary of the quarter they belonged to.
3. **Taxable Value of Export Invoice under LUT in GSTR-3B**:
- Export invoices under LUT should ideally be shown under "Outward taxable supplies (zero rated)" in GSTR-3B, not under "Outward taxable supplies (other than zero rated, nil rated and exempted)".
- If they were incorrectly shown under the wrong category, you should adjust this in subsequent returns to ensure accuracy.
4. **Correction of Wrongly Shown Transactions**:
- To correct any errors in reporting:
- Adjust the figures in the correct sections of subsequent GSTR-3B returns. For instance, if export under LUT was wrongly shown under "Other outward supplies," adjust it in the next available GSTR-3B.
- There's no provision to amend GSTR-3B once filed. Corrections can be made in the next period's returns to rectify errors.
- Ensure to accurately report in the correct sections going forward to maintain compliance.
For precise compliance and to handle specific situations like corrections, it's advisable to consult with a GST practitioner or expert. They can provide tailored advice based on the specifics of your business transactions and help ensure accurate GST filings.
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