Merchant Export by a manufacturer

Amit Mahnot (3 Points)

29 July 2022  

Dear Sir

For a Merchant Export transaction, we charged IGST @ 0.1% & claimed regular ITC @ 18% on our Inputs.

So, do we need to Reverse the proportionate ITC ? or can we set off the excess ITC with our liability of other Regular Outward supplies  ?

Thanks !