TMI BlogExport of Goods with or without payment of GSTX X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 rest ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... riction 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 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 - - Scholarly articles for knowledge sha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ring authors experts professionals 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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