set of ITC vs export sale and domestic sale.


TAX CONSULTANT

Sir. Manufacturing unit, part of the sale is export and part is domestic. Entire Inputs on rawmaterials and inputs on input services is set off against domestic output gst. Is it correct?
 
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sir, are you exporting under LUT ie zero-rated? or with payment of tax?
 
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TAX CONSULTANT

under lut sir
 
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Sir, then to the extend of Export sale you can caim refund of ITC and to the extend of Domestic sale you can set it off against your output tax liability
 
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TAX CONSULTANT

sir. to that extent any supporting section or notification sir.
 
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as per section 16(3)(a) of IGST Act, you can claim refund of unutilised ITC on zero-rated supply under LUT.
 
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ACCOUNTS PROFESSIONAL

can refer proviso after sub Section (3) of Section 54 of CGST Act , read with Rule 89
 
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