Knowledge for IGST and refund procedure

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..... Knowledge for IGST and refund procedure
Query (Issue) Started By: - Arpit Jain Dated:- 20-11-2017 Last Reply Date:- 25-11-2017 Goods and Services Tax - GST
Got 4 Replies
GST
Dear Sir, I am a beginner in export. I am a merchant exporter i.e. I first get my product from a company and then export it to other customer. Now my query is that initially suppose i have purchased 100 rs produc .....

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..... t from a company situated in my state and they add 18% tax on it so the total becomes 118. Now I have already taken order from a foreign client including my profit and transportation charges at 150 rs , here suppose transportation charge is 10 rs , so now while exporting it through air by dhl express courier service they ask me about IGST i.e. whether IGST is paid or not. So following are my query .....

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..... for the above situation:- 1) Do i have to pay 18% IGST on 150 rs or on 140rs as the exporter will not pay it . 2) Do i get refund of total 18% tax that i have given to manufacturer and also which i pay later as IGST. 3) If i get refund what are the procedures for the same. 4) Is IGST need to be paid before exporting or at time of exporting or after exporting ? Thanking you, Arpit Jain Repl .....

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..... y By KASTURI SETHI: The Reply: Whatever amount of applicable IGST you pay, you will get refund/rebate in full. IGST is to be paid before export i.e. at the time of issuance of invoice and other export documents. Reply By Ganeshan Kalyani: The Reply: Refund of input tax credit is eligible if export made without payment of IGST. If export made with payment of IGST then IGST paid is eligible as re .....

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..... fund. Reply By Ramaswamy S: The Reply: I agree to the views of both the experts. Would like to add further, Being a merchant exporter, procurement on 0.1% GST rather than 18%. Regards S.Ramaswamy Reply By Ganeshan Kalyani: The Reply: Yes, Sir i agree with you views.
Discussion Forum - Knowledge Sharing .....

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