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Gst on export

364 views 7 replies

srikumar

audit staff

1203 Points Posted on 27 December 2018

dear sir

my client has sold the goods to merchant exporter, such merchant export said charge gst rate igst 0.1% for taxable sales. my doubt was any goods sold to any one igst ( gst rate 5 or 12 or 18 or 28%) was applicable.But such merchant exporter why charges tax invoice gst igst rate 0.1% ?

explain the concept sir

Replies (7)

Sarath Rajendran

Nil

2791 Points Posted on 27 December 2018

As per notification no. 40/2017-central tax (rate) and 41/2017-central tax (rate) both dated 23.10.2017, the registered (merchant exporter )supplier would supply the goods to the registered recipient on a tax invoice charging GST as follows :

In case of intra-state supply – CGST is payable @ 0.05% and SGST is payable 0.05%
In case of inter-state supply – IGST is payable @ 0.1%

pritesh

CA Final student

7106 Points Posted on 27 December 2018

agreed with Sarath
..but there are some compliance.. which need to be done

Pankaj Rawat

GST Practitioner

55067 Points Posted on 27 December 2018

And main compliance is :

Merchant exporter shall place an order on registered supplier for procuring goods at concessional rate
Copy of the order shall also be provided to the jurisdictional tax officer of the registered supplier

srikumar

audit staff

1203 Points Posted on 01 January 2019

so any goods sold to merchant export shall levy tax invoice igst 0.1 percent and sgst cgst 0.05 percent, it's correct sir

Pankaj Rawat

GST Practitioner

55067 Points Posted on 03 January 2019

No ... Only if the compliance mention in said notification is done

srikumar

audit staff

1203 Points Posted on 04 January 2019

I am not understanding pankaj sir, what compliance sir?

Pankaj Rawat

GST Practitioner

55067 Points Posted on 05 January 2019

COMPLIANCE

1. THE REGISTERED RECEIPIENT SHALL PLACE AN ORDER ON SUPPLIER FOR PROCURING GOODS AT CONCESSIONAL RATE & COPY OF SAME SAHLL ASLO BE PROVIDED TO THE JURIDICTIONAL TAX OFFICER OF REGISTERED SUPPLIER