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 ?
M N Rao & Associates LLP
Vijayawada
CA Inter
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HKC | Chartered Accountants & Business Advisors
Ludhiana
CA
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ADY & CO.
New Delhi
Graduate (Any)
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RMA And Associates LLP
New Delhi
CA Inter
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CCI
Pro
CAclubindia
