We had exported a consignment on payment of IGST. Now buyer have returned these goods for repair. We cleared these goods from customs with NIL GST under customs bond as we will be re-exporting the goods within 6 months as per customs Notification # 158/95 dtd 14/11/95.
Do we need to reverse the IGST in the credit note or just simple entry with Cr to Buyer and Dr to sales?
Thanks but issue credit note with reversal of IGST ?
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
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MANUJ SHARMA AND COMPANY
Noida
CA Inter
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Twenty Point Nine Five Ventures Private Limited
Noida
CA Inter
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Chirag P Shah & Co. Chartered Accountant
Pune
B.Com
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CCI
Pro
CAclubindia
