Goods and Services Tax – Started By: – SURYAKANT MITHBAVKAR – Dated:- 18-7-2017 Last Replied Date:- 12-10-2017 – We have manufacturing Pharma machinery registered under GST Act. We have doing export for our Manufacturing machinery under LUT also We are doing trading Export (Material procured under CT-1). Now, under GST regime, there is no (B1 Bond) hence we can not issue CT- 1 for our trading purchases for export. What is procedure to adopt related to Trading Export under GST . – Reply By Kishan Barai – The Reply = There is also procedure to export via Bond / LUT under GST but for Merchant Exporter customs / port are yet demanding Bank Guarantee – Reply By KASTURI SETHI – The Reply = Because Bank Guarantee makes revenue 100% safe. It is discretion of Custom Officer how he thinks revenue is safe.Bonds and LUTs do not provide complete safety.These lead to litigation only. – Reply By GOKARNESAN.S SUBRAMANIAN – The Reply = Mr. Suryakant Mithbavkar Under the existing Central Excise provisi
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nd Bill of Lading, X has to give his GSTN Register Number and the Invoice reference in the said documents. If he is eligible for execution of Letter of Undertaking, he can also do so accordingly . After completion of Export, the particulars of export will be automatically transferred from Customs Department to Y account maintained in GSTN portal. The duty paid amount will also be refunded by way of direct credit to Y Bank account. If Y cleared the export goods under Bond without payment of duty, he can claim refund of input tax credit earned on the purchase of said goods from the manufacturer as rebate. Please refer the following provisions of IGST Act a) IGST Act section 2(5) for export definitions. b) IGST Act section 10(a) and (b) for place of supply of goods other than import or export. c) IGST section 11 – for place of supply of goods for export and import d) IGST Act section 16 (1) to (3) for Zero rated supply and for refund of input tax credit / refund of IGST paid. Advised acco
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( here the tax can be paid either out of credit earned for the purchase made from the manufacturer or pay by cash) and supply the goods for export through the port. While submitting Shipping Bill and Bill of Lading, Y has to give his GSTN Register Number and the Invoice reference in the said documents. If he is eligible for execution of Letter of Undertaking, he can also do so accordingly . After completion of Export, the particulars of export will be automatically transferred from Customs Department to Y account maintained in GSTN portal. The duty paid amount will also be refunded by way of direct credit to Y Bank account. If Y cleared the export goods under Bond without payment of duty, he can claim refund of input tax credit earned on the purchase of said goods from the manufacturer as rebate. Please read my previous posting with the above corrected one. I regret for the confusion while typing X and Y Regards S. Gokarnesan – Reply By Kishan Barai – The Reply = It was a wonderful re
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o (X). Please suggest. – Reply By RAMJI RAMJI – The Reply = Thanks for the clarity provided on GST refunds on Exports.We are a merchant exporter & the Pre-GST documentation helped us in procuring products from 100% EOU without payment of Excise & Customs Duty via CT1/ARE1 process. GST refund process is well understood. But there is no info on the refund of the Basic Customs Duty + Cesses (and is not under the GST Act) that will be charged by the 100% EOU . Does the BCD+Cess have to be charged by the 100% EOU supplier and refund to be applied by the merchant exporter? Or is there a process of getting an exemption as the material is destined for exports? Will apprecaite any info alongwith pertaining documentation info. – Reply By MAHESH JAGTAP – The Reply = If Merchant Exporter is located in Maharashtra & Manufacture is located in Gujarat the what transaction will have to done for Export. – Reply By SHIVAKUMAR GOKARNESAN – The Reply = Friends Please refer to my postings (repl
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rnesan. S Advocate 12.8.2017 – Reply By Suman Jhamb – The Reply = If we purchase goods from delhi from mr. X for export then x will charge igst in his invoice and we will take the credit of that igst, like normal other igst. In that case at the time if making the invoice if we are having bond then we will not charge igst in our invoice and if we are not having then we will mention gst amount in our invoice. For example if product value is usd 5000 +gst usd 600? My question is what amount will the buyer pay to us to whom we are exporting the goods. He pay usd 5000 or usd 5600??Correct me if i am wrong. And reply urgently plz. – Reply By KASTURI SETHI – The Reply = 5000 USD. Bond or LUT means Govt Tax. I.e. GST is secure without payment of GST while exporting. Who is actual export, can get benefit of export. – Reply By Kishan Barai – The Reply = 5000 USD for export against bond as correctly coined by Sir – Reply By saraswathi P – The Reply = By: SaraswathiWe are placing order to malaysia
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