XYZ is issuing ‘EPCG Invalidation Letter’ to PQR for procuring goods from local market. 1) Is PQR required to pay GST against this supply or it is exempted being deemed export.? 2) If GST is required to be paid can refund be claimed against the GST paid by XYZ or PQR?
Menu
EPCG Invalidation Letter
Replies (1)
1. Yes PQR is required to pay tax regular rate of Tax as applicable.
2. Yes in term of rule 89 of CGST Act allows either the Recepient or Supplier of such supplies to claim refund of tax paid.
Note : The Recepient is not eligible to claim the ITC in case refund of tax paid is being claimed by Supplier.
For more clarification kindly refer Circular 14/14/2017 GST dated 6/11/17
2. Yes in term of rule 89 of CGST Act allows either the Recepient or Supplier of such supplies to claim refund of tax paid.
Note : The Recepient is not eligible to claim the ITC in case refund of tax paid is being claimed by Supplier.
For more clarification kindly refer Circular 14/14/2017 GST dated 6/11/17
Recent Topic
- Clubbing of deceased's income
- Which ITR to use
- Sovereign gold bond capital gain
- In TDS section no column for relationship in itr
- Query related to agricultural income of Trust
- Full & Final Settlement — what changed u
- Capital gains or losses when new equity was issued
- Looking for a FMCG foods business to acquire
- Sale of mutual fund in zerodha and AIS
- FORM 144 TDS RETURN FILING
Related Topics
CAclubindia
