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Export of Goods with or without payment of GST

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Export of Goods with or without payment of GST
By: chethan kumar
July 19, 2021
All Articles by: chethan kumar       View Profile
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An attempt is made to identify the Differential Treatment in GST law with respect to Export of Goods with or without payment of GST

Why Differential Treatment:

Sl. No.

Area of difference

Refund of ITC on Export of Goods without payment of Tax

Refund of ITC on Export of Goods with payment of Tax

1.

LUT/Bond

Required and to file FORM GST RFD-11

Not required

2.

Refund Application

Application in Form GST RFD-01

S B is deemed to be refund application

3.

Filing of declarations and undertakings

S. 16(2)(c), S. 42(2)

r. 91(1), r.96B, etc..

No such declarations and undertakings

4.

Turnover of zero-rated supply of goods

Value restricted to 1.5 times the value of like goods domestically supplied

No such restriction

5.

Turnover of Zero rated supplies - Invoice Value Vs    S B Value

Lower of Invoice value or SB value

Invoice Value

6.

ITC on Capital Goods

Not allowed as refund

Allowed as refund !

7.

Realisation of export proceeds

If not realised - Recovery of refund in terms of rule 96B

If not realised - ………….?

Whereas, same exporter may have both scenarios and in both the cases goods are exported and convertible foreign exchange is earned But for refund of GST - Why Differential Treatment !

You are welcomed to add or correct …

 

By: chethan kumar - July 19, 2021

 

 

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