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
Goods and Services Tax - GST
Dated:- 19-7-2021

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 Expor .....

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..... t 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 t .....

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..... he 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 - …………. .....

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..... ? 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 …
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