Application of IGST on credit note against Export
This query is : Resolved
21 November 2019
Dear Sir / Madam,
I want to know, if we issue credit note for rate difference against export of goods which is made against payment of IGST.
Instance- we export goods for INR 1,00,000.00 and charged IGST 5000.00 that is refundable. After receiving the goods buyer issued a debit note equivalent to INR 10000.00, so we issue credit note for Rs. 10000 + 500 IGST for which we credit the account of the buyer for INR 10000.00 and debit IGST account for 500.00
In this instance we observe that we are taking benefit of ITC for INR 500.00 twice, as once we used against export of goods and get refund , other time increase the same through credit note.
Could you please advise how should we make the proper treatment of the GST in above case (against export)?
If we issue credit note without GST, the portal does not accept same as original invoice is issued against payment of GST.
I want to know, if we issue credit note for rate difference against export of goods which is made against payment of IGST.
Instance- we export goods for INR 1,00,000.00 and charged IGST 5000.00 that is refundable. After receiving the goods buyer issued a debit note equivalent to INR 10000.00, so we issue credit note for Rs. 10000 + 500 IGST for which we credit the account of the buyer for INR 10000.00 and debit IGST account for 500.00
In this instance we observe that we are taking benefit of ITC for INR 500.00 twice, as once we used against export of goods and get refund , other time increase the same through credit note.
Could you please advise how should we make the proper treatment of the GST in above case (against export)?
If we issue credit note without GST, the portal does not accept same as original invoice is issued against payment of GST.
21 November 2019
Pay the excess refund to GST account.
22 November 2019
Could you please advise us the procedure to treatment of the entry in the books? If we make payment in GST account it will reflect in our credit ledger on the portal.
22 November 2019
Pay it through DRC 03.
23 November 2019
Dear Sir,
Thanks for the reply.
Sir, can we off set it with available ITC also?
Thanks for the reply.
Sir, can we off set it with available ITC also?
23 November 2019
Yes...........................
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