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Varun (Proprietor)     22 October 2020

IGST REFUND ON EXPORT OF SERVICES

Hello All,
 
Suppose i have raised one invoice towards Export of services Say Rs. 1 Lacs +  GST @ 18% Rs. 18000 
Total Invoice Value Rs. 118000 recovered from a client abroad, now as per IGST Rule i can get refund of IGST Paid on export of Services. Can we recognise in books IGST refund of Rs. 18000 refund as income ?
Can we recognise in books IGST refund of Rs. 18000 refund as income ?


 5 Replies

Gaurav Sharma

Gaurav Sharma   22 October 2020

You can claim refund
1 Like
Varun

Varun (Proprietor)     23 October 2020

But wether it is treated as Income ?

 

charu sharma

charu sharma   23 October 2020

If whole amount including tax is recovered from customer then refund cannot be applied.
Varun

Varun (Proprietor)     24 October 2020

But under which provisions of the act, we cannot apply for refund in that case ?

Because what i understand is IGST Refund is an export benefit to us, can anyone please elaborate on this ?

 

 

Varun

Varun (Proprietor)     30 October 2020

Hi can anybody please reply on the Topic ?


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