A DEALER EXPORT- NOT FOR SALE IN INDIA GOODS WITH A VALUE OF 100000/- WITH IGST. WHEN HE RECEIVED THE PAYMENT HOW IT REFLECTS IN HIS BOOKS OF ACCOUNTS?
3 Replies
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 19 November 2019
Dear Muralidoss
cannot get your query , can you elaborate ???
cannot get your query , can you elaborate ???
MURALIDOSS
(INCOME TAX PRACTITIONER)
(1329 Points)
Replied 05 December 2019
A dealer exports dish antenna for Rs.100000/- + igst 18000/- , but this product not for sale. only they can collect a deposit for connection. when he going to receive this amount how it will reflect?
Pankaj Rawat
(GST Practitioner)
(55052 Points)
Replied 05 December 2019
Dear Muralidoss
As the query sounds the goods sent out of india is not for sale purposes .
In term of circular 108/27/2019, such transaction are not cover u/s 7 of cgst ACT & Section 16 of IGST ACT, hence its neither a supply nor export.
so as prescribed in said circular need to be sent as per rule 55 of cgst act on Delivery Challan & shall be return back within Six months.
kindly refer above said circular for the same
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