Non realization of export proceed

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11 Points Posted on 22 July 2020
what are the consequences for non realization of export proceed in gst, whether IGST required to pay or reversal of input credit?
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On 22 July 2020 at 21:00 Report
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This discussion addresses the GST implications of not realising export proceeds within the prescribed time limits. It clarifies that IGST must be paid in such cases, even if the export was made under LUT/bond. The advice extends to situations involving bad debts, confirming that IGST payment is still required. Reference is made to Notification No. 16/2020 Central Tax for further details on the matter.

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Chartered Accountant
61 Points Posted on 22 July 2020
Required to pay IGST if export proceedings are not received within prescribed time lines
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On 22 July 2020 at 22:23
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1313 Points Posted on 22 July 2020
Non realisation of export proceedings required to pay IGST.
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On 22 July 2020 at 22:48
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11 Points Posted on 22 July 2020
What will be in case bad debt entry not done and amount is showing as outstanding since long, whether IGST required to pay in bad debt case or if not received within time, what will be time limit for realization
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On 22 July 2020 at 22:48
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Practising CA
8954 Points Posted on 23 July 2020
Yes. Required to pay back IGST even in Bad Debt
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On 23 July 2020 at 01:27
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11 Points Posted on 23 July 2020
Please share act,circular reference in this matter
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On 23 July 2020 at 10:02
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Practising CA
8954 Points Posted on 23 July 2020
Notification no. 16/2020 Central tax dated 23.03.2020
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On 23 July 2020 at 10:30
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11 Points Posted on 23 July 2020
Please clarify that in this notification ,Refund of unutilized ITC or refund of IGST paid on export is required to pay , if export is done without paying IGST under LUT bond, and no refund for ITC is made , what will be solution
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On 23 July 2020 at 13:24

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