As per GST Act we need to make application for LUT to make Export without Payment of IGST.
The issue is that Export invoice issued against which payment was received in the Month of October 2019 without applying LUT and neither paid IGST for the same transaction.But Goods was not transferred for export till 31 March 2020 and not as of now as on today, so what to do in such situation.
The Second issue is that with Invoice on which payment was received have filed GSTR 3B for the month of October 2019 as per the transaction date but the same invoice has not been reflected in GSTR 1 since the transaction of transfer of goods had not happened as on today as said Earlier
please help with both the issue as soon as possible.
Cannot export goods without paying IGST when lut is not furnoshed. Hence not liable pay IGST .
The IGST declare in 3B can be reverse /reduced in current month 3B .
Note : In term of Regulation 16 of Notification No. FEMA 23/2000-RB , where exporter reced advance payment from buyer outside India , the exporter shall be an obligation to ensure that the shipment of goods is made within 1 year from the date of receipt of Advance payment.
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