Export of services

This query is : Resolved

Sabita Sahoo (Querist)
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13 May 2018 Is LUT can be filed online for non payment of IGST on export of services to foreign country? A dealer receives amount of 150 dollar which is credited to his bank account by foreign party,but the Indian party has not issued any invoice.Is he liable to pay IGST on the amount received?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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13 May 2018 Yes, LUT can be filed online for export of goods and/ or services without payment of IGST.

The Indian party should raise an invoice for the amount received in the bank account.
Such amount should also be declared in GSTR 3B and GSTR 1.

Sabita Sahoo

Sabita Sahoo (Querist)
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13 May 2018 The dealer has not filed LUT yet.He received convertible foreign exchange.Now he is required to pay IGST showing the transaction in gstr1 & 3B.As per sec 16 of IGST act,export of service is zero rated and no tax is leviable if convertible foreign exchange is received.Here in this case what is the tax liability?

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