we had supplied goods to merchant exporter for third party export @ 0.1 % igst but merchant exporter failed to export the goods within 90 days hence making him failed to avail the above 0.1 % exemption.
so being a supplier what action needs to be taken from my side do i have to revise the invoice with 18 % gst or issue debit note against the same.
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merchant export
Replies (5)
Yes supplier can raise the bill on concessional rate Merchant exporter but
Goods must be exported within a period of 90 days from the date of issue of tax invoice by the supplier. The exemption would not be available to the supplier if the merchant exporter fails to export the said goods within a period of 90 days from the date of issue of tax invoice
So debit note has to be issue in this regard by supplier
Goods must be exported within a period of 90 days from the date of issue of tax invoice by the supplier. The exemption would not be available to the supplier if the merchant exporter fails to export the said goods within a period of 90 days from the date of issue of tax invoice
So debit note has to be issue in this regard by supplier
Yes agree with Pankaj sir.
debit note against diff tax amount and interest right and how to update in gstr 1
Yes you can ammend that invoice in GSTR 1 by changing it GST rate (As there is no option in GST to correct for differential in rate change)
Yes interest has to be deposit @ 18%
Yes interest has to be deposit @ 18%
Follow Pankaj sir advice
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