Do we have to add the " IGST" figure with the taxable values at the GST TAX INVOICE? The supply is EXPORT / DEEMED EXPORT where the SUPPLIER will claim the refund of IGST?
Do we have to add the " IGST" figure with the taxable values at the GST TAX INVOICE? The supply is EXPORT / DEEMED EXPORT where the SUPPLIER will claim the refund of IGST?
I have to show that I understand but whether IGST will be added with the taxable value and invoice total will be including IGST that I need to clarify.
Under GST regime exports would be considered as zero-rated supply. Any person making zero rated supply (i.e. any exporter) shall be eligible to claim refund under either of the following options, namely:
(a) he may supply goods or services or both under bond or Letter of Undertaking, subject to such conditions, safeguards and procedure as may be prescribed, without payment of integrated tax and claim refund of unutilised input tax credit;
(b) he may supply goods or services or both, subject to such conditions, safeguards and procedure as may be prescribed, on payment of integrated tax and claim refund of such tax paid on goods or services or both supplied, in accordance with the provisions of section 54 (Refunds) of the Central Goods and Services Tax Act or the rules made there under (i.e Refund Rules 2017).
@ Dip Narayan
Dear Sir, You can add IGST value in invoice. For e.g. taxable value is Rs.100 and IGST is Rs.18, then your invoice value will be Rs.118/-. I presume that this doubt arises in your mind may be because of unjust enrichment. This unjust enrichment is not applicable to refund on account of exports, as per rule 89(2)(l).
However, the above clause does not cover refund on account of deemed export. Hence, you can include IGST amount in invoice amount. But you have to submit a declaration(in case refund is up to 2 lacs or CA cert) that tax incidence has not been passed on.
If doubt still persists, you can send your query to my whatsapp no 6380 592 749
Naveen Fintech Pvt Ltd
Kolkata
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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