mack (Thinking-to-start-business) (154 Points)
19 December 2022Being a proprietor doing export but having a turnover less than 40 Lakh, so do I need to pay IGST if considering that not using LUT ?
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 19 December 2022
mack
(Thinking-to-start-business)
(154 Points)
Replied 19 December 2022
Ok, this means -
If I am only selling tangible products as a trader within India (no export business) and because my turnover in the past year was more than 40 Lakh but for the current year turnover is less then 40 Lakh then I don't need to add GST in the selling price invoice (even after having a GSTIN) ? correct my understanding if I am wrong
If I am selling (exporting) tangible products as a trader outside India and because for IEC it is mandatory to get GSTIN so I hold GSTIN now even if my export turnover is less than 40 Lakhs still I have to add GST in the export selling price (if not using LUT) and then I can claim based on shipping bill ? correct my understanding if I am wrong
mack
(Thinking-to-start-business)
(154 Points)
Replied 19 December 2022
I know that can be refunded but here my question is that why should I add the GST in export selling price (if not using LUT) at the first place if my turnover is less than 40 Lakh (as a trader for tangible products) ?
prasad Nilugal
( GST Practitioner & Accounts )
(14801 Points)
Replied 19 December 2022
CAclubindia
