TMI BlogExport of service - payment not received - write offX X X X Extracts X X X X X X X X Extracts X X X X ..... In case of export of services and the payment is not received and the company decides to write off the receivables (in accordance with provisions of FEMA) then is there any implications for GST for the write off. The original invoice was recorded as Zero rated under LUT. - Reply By Rajagopalan Ranganathan - The Reply = Sir According to rule 96 A(1)(b) of CGST Rules,2017 exporter has to pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the tax due along with the interest specified under sub-section (1) of section 50 within a period of fifteen days after the expiry of one year, or such further period as may be allowed by the Commissioner, from the date of issue of the invoice for export, if the payment of such services is not received by the exporter in convertible foreign exchange or in Indian rupees, wherever permitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by the Reserve Bank of India. Therefore in your case since the payment is not received within one year from the date of export invoice you have to pay IGST at appropriate rate along with interest. - Reply By DR.MARIAPPAN GOVINDARAJAN - The Reply = I concur with the views of Shri Rajagopalan. - Reply By Himansu Sekhar - The Reply = GST will be payable on the export value. - Export of servi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ce - payment not received - write off - Query Started By: - Mohideen A Dated:- 23-8-2019 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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