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Local purchase and export

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MURALIDOSS

INCOME TAX PRACTITIONER

1023 Points Posted on 29 June 2022

DEAR SIR,

WE BOUGHT ONE ELECTRONIC ITEM FOR A VALUE OF RS.100000/- WITH GST 18000/- TOTAL 118000/- LAST MONTH. MAY 21

WE HAVE LUT FOR THIS YEAR 2022-23

NOW WE WANT TO EXPORT TO OVERSEAS WITHOUT PAYING TAX .

IS IT POSSIBLE TO CLAIM THAT PURCHASED VALUE ITC AS REFUND IN NEXT MONTH.

IF CAN , CAN WE FILE THE EXPORT INVOICE IN NEXT MONTH GSTR1 AND CLAIM THAT AMOUNT REFUND IN SAME MONTH ALSO?

KINDLY EXPLAIN.

Replies (2)

Quick Summary

This discussion explores the possibility of claiming Input Tax Credit (ITC) on a locally purchased electronic item for export overseas without paying additional tax. The user wants to know if they can claim a refund of the ITC in the month following their export filing. The advice suggests that a proportionate refund of ITC based on export sales is possible over the year, but receiving it in the same month as the GSTR1 filing for export might not be feasible.

Kesavaraj S

333 Points Posted on 29 June 2022

Yes...You can get the refund of ITC proportionate to the export sales out of your Total sales over the year.I don't think it is possible to get the refund in the same month of GSTR1...

Reddy Reddy

68 Points Posted on 04 July 2022

Ye u can get the refund of itc proportianate to the export sales out of urs total sales over the year I don't think it is possible to get the refund in the same month of gstr-1....