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Is IGST cr reversal for import good re export

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sreedhara sredhara

37 Points Posted on 01 June 2021

dear all

IGST cr availed against import RM . and export RM . is require to reversal IGST

Replies (4)

Quick Summary

This discussion clarifies the IGST credit reversal process when importing and then re-exporting goods. It explains that such re-exports are considered a supply. You can either pay GST on the export using your Input Tax Credit (ITC) and claim a refund, or export under a Letter of Undertaking (LUT) and claim a refund of your ITC.

CA. Sourav Sarkar

Chartered Accountant

24588 Points Posted on 01 June 2021

It might require to reverse

CA Altamush Zafar

GST Consultant

15986 Points Posted on 01 June 2021

Where you have exported the same goods after importing such export will be treated as supply. You can either pay gst on such export utilising your ITC and will be refunded the GST amount paid including ITC utilised.

Or you can export under LUT and claim refund of ITC.

For further clarification you can mail me.

CA Subhankar Basu

Chartered accountant

318 Points Posted on 02 June 2021

If you did export with paying igst after netting off igst credit ,then such igst which is you paid through electronic cash ledger can claim refund

if you did zero rate supply under bond,then claim refund of igst credit