in case of export of goods when is reversal made in gstr-3b
for the itc claimed on such goods which are exported
8 Replies
MOHIT JOSHI
(229 Points)
Replied 20 March 2021
I think you have to claim refund of IGST paid on export of sale. if you had taken ITC of goods exported
TRENDING VIDEOS
(24 Points)
Replied 20 March 2021
Okay got this but my doubt is when are reversals made for itc in gate 3b ?
MOHIT JOSHI
(229 Points)
Replied 20 March 2021
If u claim refund if IGST paid then no requirement for reverse ITC in 3b
TRENDING VIDEOS
(24 Points)
Replied 20 March 2021
Is there an option to not pay IGST on export and not to claim refund on the same ?
MOHIT JOSHI
(229 Points)
Replied 20 March 2021
Yes, there is way if you haven't claim the ITC then don't pay IGST claim refund of ITC by filing rfd-01, you can export the goods by furnishing letter of undertaking (lut)
TRENDING VIDEOS
(24 Points)
Replied 20 March 2021
But even after filing lut .....no output tax (IGST) Payable so no refund need to be claimed
itc for inputs can be availed right ?
itc for inputs can be availed right ?
MOHIT JOSHI
(229 Points)
Replied 20 March 2021
You can claim refund of IGST or refund of ITC
if you want refund of IGST then claim ITC and pay the IGST FIRST THEN CLAIM REFUND OF IGST BY FILING SHIPPING BII
if you want refund of ITC then don't claim itc BY FILING RFD01
if you want refund of IGST then claim ITC and pay the IGST FIRST THEN CLAIM REFUND OF IGST BY FILING SHIPPING BII
if you want refund of ITC then don't claim itc BY FILING RFD01
TRENDING VIDEOS
(24 Points)
Replied 20 March 2021
Got it if I claim itc no need to do other procedures like take lut don't pay IGST nor claim refund of IGST as you had taken LUT👍
Recent Topics
- Urgent doubt on GST
- Profit or Loss on Sale of Assets Accounting treatm
- Clarification on RCM on Rent Payment for QRMP Deal
- Reclaimed itc in gstr9
- Gamification in Accounting Software: Boosting Enga
- I want to knw Hsn code and gst rate of resin produ
- Schedule FA clarification
- Income tax on freelance income from crypto
- ITC temporary reversal and reclaim
- Query on Transactions
Related Threads
CAclubindia
