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TMI BlogBill to overseas - ship to India from IndiaX X X X Extracts X X X X X X X X Extracts X X X X ..... Bill to overseas - ship to India from India X X X X Extracts X X X X X X X X Extracts X X X X ..... ufacturing Base is in India) and Bill to overseas buyer. Is there a procedure for this. How the foreign currency for the bill be realized. What are the tax implications and how it need to documented. Request expert support on this. Reply By YAGAY and SUN: The Reply: In our view IGST would be applicable in this matter since goods have not been left India. Reply By Kishan Barai: The Reply: IGST ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... would be refunded if you send the goods outside the territory of India. Reply By Rajagopalan Ranganathan: The Reply: Sir, The supply is within taxable territory (India). Therefore you have to pay CGST + SGST or IGST (if supply is inter- state).. The fact that you are invoicing the customer who is located ovewrseas and remittance is made in convertible foreign currency will not make yoiur suppl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y as export.. According to Section 2 (5) of IGST Act, 2017 "export of goods" with its grammatical variations and cognate expressions, means taking goods out of India to a place outside India; According to Section 2 (6) of IGST Act, 2017 "export of services" means the supply of any service when,-- (i) the supplier of service is located in India; (ii) the recipient of service is located outside In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dia; (iii) the place of supply of service is outside India; (iv) the payment for such service has been received by the supplier of service in convertible foreign exchange; and (v) the supplier of service and the recipient of service are not merely establishments of a distinct person in accordance with Explanation 1 in section 8; Reply By YAGAY and SUN: The Reply: We endorse the views of Exper ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts. Reply By Praveen Nair: The Reply: Hi Experts, In continuation to the said query, if the material is subsequently exported, by the Manufacturer / Exporter, can the Contract Manufacturer call this as deemed export even though the payment is received from the Overseas Buyer (and not from the exporter). Proof of export can be provided through the Manufacturer / Exporter (even though the materia ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l is further processed to make the ultimate product). Claiming deemed export with LUT supply by the Contract Manufacturer on subsequent supply to the ultimate manufacturer / exporter would help Contract Manufacturer to save on the GST since the value of the goods received from the Overseas Clients is inclusive of GST. Kindly suggest. Thanks! Pravin Nair Reply By YAGAY and SUN: The Reply: Deem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed Export is well defined in FTP 2015-2020. X X X X Extracts X X X X X X X X Extracts X X X X
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