Refund of GST
Query (Issue) Started By: – BINDLASDUPLUX LIMITED Dated:- 3-9-2018 Last Reply Date:- 6-9-2018 Goods and Services Tax – GST
Got 6 Replies
GST
Dear Sir(s)
A Trading company say Mr. X (deals in paper, paper machines etc.) purchased Kraft Paper (IGST @12%) from paper manufacturing company in India.
Thereafter Mr. X sold the goods to Mr. Y (merchant exporter) under not. no. 41/2017 Integrated Tax (Rate) Dt. 23.10.2017 charging 0.10 % IGST. Now the merchant exporter Mr. Y export the goods out of India.
My question here is that how Mr. X can claim the IGST which is unutilized.
thanks
CA Devkant Agarwal
Reply By DR.MARIAPPAN GOVINDARAJAN:
The Reply:
Whether the company is paying any other integrated tax?
Reply By
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Goods).
However he will be eligible for ITC only for (12%-.10% = 11.90%) under refund mechanism.
The calculation for Inverted duty structure in system enabled in GST Portal.
Regards
Reply By BINDLAS DUPLUX LIMITED:
The Reply:
thanks
Reply By Yash Jain:
The Reply:
Sir,
But do ensure that you fulfill all the conditions as being laid for supply to merchant exporter.
Refer the notification for merchandise trade. There are some of the following conditions
1. Ensure that goods are exported in 90 days
2. Shipping bill should mention ur name.
3. You not being manufacturer will not get incentive/drawback
4. Your AO should be give PO by merchant exporter.
Many more conditions. Instead charge gst full @12%, and let merchant exporter ta
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