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IGST on Export

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TUSHAR GARG

WORKING WITH CA FIRM

21 Points Posted on 10 April 2020

Please resolve my query related to export which are as follows:

Cost :USD100*70=Rs.7000

Freight: USD10*70=700

Total Invoice Value: USD

110*70=Rs.7700

FOB Value : Rs.7000

IGST: Rs. 7000*12%= Rs.840

What is the taxable amount shown in GSTR-1 and GSTR-3B?

Thanks and Regards

Replies (5)

Quick Summary

This discussion clarifies how to report IGST on exports in GSTR-1 and GSTR-3B. The consensus is that the FOB value (Rs. 7000 in this example) should be used as the taxable amount in GSTR-3B, as tax is paid on this. For GSTR-1, the taxable value is Rs. 7000, with an addition of Rs. 700 for freight, making the total invoice value Rs. 7700.

inderjeet saini

132 Points Posted on 10 April 2020

Taxable amount 7000 and invoice value 7700

CA Naveen Chand

Chartered Accountant

8022 Points Posted on 10 April 2020

FOB value shall be shown

Harshit Acharya

296 Points Posted on 10 April 2020

FOB 7000 VALUE IN GSTR-3B AS WE ARE PAYING TAX ON IT AND INVOICE VALUE 7700 in gstr-1 as it is invoice value..IS this view correct?

inderjeet saini

132 Points Posted on 11 April 2020

Yes!!

CA Thuppada Aruna

Job

30 Points Posted on 11 April 2020

FOB value of 7000 should be shown in gstr3b, where as in gstr1 need to show taxable value as 7000rs and in additions as 700, put together Invoice value will be 7700...