SHORT REALIZATION OF EXPORT PROCEEDS
This query is : Resolved
03 September 2024
Sir,
We are Exported the goods in April 2024 for USD 5280.After we found that wrongly raised the for USD 4128 instead of USD 5280 due to there's some clerical mistake and the foreign supplier made the payment of USD 4128 also only.(Balance of USD 1152 short realization) But In this Export invoice shipping bill we are availed the benefit of DBK, RODTEP & IGST also. Now we are repaying the excess availing benefit of DBK,RODTEP along with interest. In my question is Export with payment of IGST paid in our hand and this was reported in GSTR-1 and payment made in GSTR-3B and received also. Now It is mandatory to repay the balance IGST amount to the customs department for this short realization. please clarify any one what provision is there this kind of issues in GST and how to report in GST returns and reclaim this amount in department. please reply to us immediately.
We are Exported the goods in April 2024 for USD 5280.After we found that wrongly raised the for USD 4128 instead of USD 5280 due to there's some clerical mistake and the foreign supplier made the payment of USD 4128 also only.(Balance of USD 1152 short realization) But In this Export invoice shipping bill we are availed the benefit of DBK, RODTEP & IGST also. Now we are repaying the excess availing benefit of DBK,RODTEP along with interest. In my question is Export with payment of IGST paid in our hand and this was reported in GSTR-1 and payment made in GSTR-3B and received also. Now It is mandatory to repay the balance IGST amount to the customs department for this short realization. please clarify any one what provision is there this kind of issues in GST and how to report in GST returns and reclaim this amount in department. please reply to us immediately.
06 September 2024
Export of goods is exempt from GST.
Whatever IGST paid is got refunded.
No further liability in this case.
Whatever IGST paid is got refunded.
No further liability in this case.
06 September 2024
Export of goods is exempt from GST.
Whatever IGST paid is got refunded.
No further liability in this case.
Whatever IGST paid is got refunded.
No further liability in this case.
06 September 2024
Sir,
In this export made under with payment of IGST. (For Ex. IGST of Rs.52398/- its paid and received).Now the short realization of foreign currency balance IGST of Rs.11432/-)
is it needed to pay?
In this export made under with payment of IGST. (For Ex. IGST of Rs.52398/- its paid and received).Now the short realization of foreign currency balance IGST of Rs.11432/-)
is it needed to pay?
06 September 2024
No need to pay as whatever is paid is refunded.
06 September 2024
You are welcome..
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