Payment recd in INR against export
Query (Issue) Started By: – Kavita Sharma Dated:- 18-7-2017 Last Reply Date:- 19-7-2017 Goods and Services Tax – GST
Got 7 Replies
GST
As per section !3(2), place of supply of service is outside India. Invoice raised was also in foreign currency. But payment recd in INR. My query is what will be the impact of this on GST and Input credit availability.
\nRegards
\nKavita Sharma
\nReply By KASTURI SETHI:
\nThe Reply:
\nWhen the goods are exported, these are to be treated as duty-paid(Now GST paid). Exported are not exempted goods. In pre-GST era, credit on inputs contained in finished goods exported was allowed, and it is allowed even now in GST-era. No adverse effect on GST and ITC, especially, in vi<\/p>\n
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