Menu
what is my tax liability
one prop. firm make a export sale with letter of undertaking fyi 2017 2018, export sale value rs1500000 but received rs 500000 against export sale and balance amt not received so I want to know that balance amt taxable or not. what is my tax liability
Replies (2)
You have LUT so u need not to pay nay tax liability and in this case u have received 5lakhs so on that tax u can claim refund from unutilised ITC as per Sec 54(3) of CGST Act, 2017.
It is obligatory , on the part of exporter to realise payment for export of goods within 9 months & if the payment is not reced. within the prescribed limit, the exporter duty is to inform the Bank about this.
The exporter has to surrender. proportionate export incentives. hence also cannot claim refund for proportionate portion for unutilized ITC .
The exporter has to surrender. proportionate export incentives. hence also cannot claim refund for proportionate portion for unutilized ITC .
Recent Threads
- GSTR 2B ( MULTIPLE MONTHS )
- Eway bill generation for export material.
- International Tax clarification UK.
- E way bill expired penalty
- Best SME Focused AIF Funds in India for High Growt
- How does employee management software help in stat
- Clarification Required – Section 18 of Wage
- How to split freelance project income with a frien
- 194a for A y 2024-25
- Compensation & Benefits
Related Threads
CAclubindia
