wether supply made to SEZ shall attract to gst.
1. means when supplied to SEZ with payment means gst would be charged in bill given to SEZ units, or
2. it is practice to pay gst from own pocket and get it back as refund.
and please also explains it's practical approach of adjustment.
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supply to SEZ
Replies (8)
1. Yes...
&
2. It's payable from Your pocket and then claim refund...
&
2. It's payable from Your pocket and then claim refund...
1. Yes sale to Sez IGST is applicable , & cannot collect IGST from Sez . (Can claim Refund IGST)
2. You file LUT & no need to charge IGST
2. You file LUT & no need to charge IGST
if invoice raised with igst, sez can pay igst amount or not ?
No... Supplier pay the IGST his own pocket.
Also supplier Can be claim refund.
Also supplier Can be claim refund.
RAJA PM
I think it is practice to pay GST from own pocket and get it back as refund.
I think it is practice to pay GST from own pocket and get it back as refund.
how to pass journal entries for sale, payment of igst, refund of igst sir
@ devendra.,
Supplier only pay the tax amount for supplying to SEZ / Export if without LUT / Bond...
I think You know in general practice Customers give also invoicing values including Tax amount. But Export proceeds no way for receiving tax amount from customers end...
Supplier only pay the tax amount for supplying to SEZ / Export if without LUT / Bond...
I think You know in general practice Customers give also invoicing values including Tax amount. But Export proceeds no way for receiving tax amount from customers end...
| Originally posted by : srikumar | ||
 |
how to pass journal entries for sale, payment of igst, refund of igst sir |  |
All are Examples :
Sales :
Dr. Party A/c - Rs. 1180
Cr. Sales to SEZ - Rs. 1000
Cr. Output IGST for Export/SEZ - Rs. 180
Receipt :
Cr. Party A/c - Rs. 1000
Dr. Bank/Cash A/c - Rs. 1000
Journal :
Dr. IGST Refund for EXPORT/SEZ Supplies - Rs. 180
Cr. Party A/c - Rs. 180 (Now party account is 0)
Receipt :
( for Refund from GSTN)
Cr. IGST Refund for EXPORT/SEZ Supplies - Rs. 180
Dr. Bank A/c - Rs. 180
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