Sir I m exporting goods with Gst on CIF basis and charging Freight and insurance in invoice. So what is the Taxable Amount for levy of Gst ?
Should I levy Gst on freight and Insurance along with cost (FOB).
Plz share if there is any ruling about it.
As per IGST Act you Can export the goods by two methods
1) pay IGST and claim refund
2) without payment of IGST , however you have to submit Letter of Under taking ( LUT ) subject to conditions .
So I think second method is useful , You have to submit LUT on GSTN portal , from starting of new F.Y 1-4-2023 , just check which method is useful and apply.
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