Doubt in Exports under GST
Case I
if compnay submits LUT, no need to pay IGST on outward suplies of exports.
entire unutilised ITC shall be eligible for refund
Case II
if company does not submits LUT, company must pay IGST on exports of outward supplies made.
e.g. ITC availabile - 8
IGST payble on outward supplies - 10
so company need pay '2' (10-8) as IGST
My doubt is, whether entire IGST (10 in e.g.) will be refunded or only tax paid (i.e.2) will be refunded ?
If LUT is not submitted, whether Company collects the tax from recepient or they pay on inclusive basis from amount collected from sale?
CAclubindia
