EXPORT SALE NOT REALISED IN FOREIGN CURRENCY

This query is : Resolved

shrikant (Querist)
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16 August 2020 Exporter dispatched the goods to Germany. Bill of ladding, Shipping bill is issued to the exporter. The goods were loaded in a container having hazardous material which got leaked between the sea transport. The whole container was disposed off by the shipping Company. The German customer did not pay for the material but the shipping agent in India aggreed to pay for the consignment. Is GST applicable for the sale?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 August 2020 GST not applicable on this payment as there is no supply involved. As the material lost ITC related to this material has to be reversed.