Payment recd in INR against export

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..... Payment recd in INR against export
Query (Issue) Started By: - Kavita Sharma Dated:- 18-7-2017 Last Reply Date:- 19-7-2017 Goods and Services Tax - GST
Got 7 Replies
GST
As per section !3(2), place of supply of service is outside India. Invoice raised was also in foreign currency. But payment recd in INR. My query is what will be the impact of this on GST and Input credit availability .....

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..... . Regards Kavita Sharma Reply By KASTURI SETHI: The Reply: When the goods are exported, these are to be treated as duty-paid(Now GST paid). Exported are not exempted goods. In pre-GST era, credit on inputs contained in finished goods exported was allowed, and it is allowed even now in GST-era. No adverse effect on GST and ITC, especially, in view of legal position that export to Nepal is at pa .....

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..... r with our countries now. Reply By Kishan Barai: The Reply: GST on Exports are Zero Rated, you can realize amount in INR via Vastro Account Reply By KASTURI SETHI: The Reply: Yes. I support the views of Sh.Kishan Barai, an expert. Reply By Kavita Sharma: The Reply: Payment recd via Vostro Account is ok, but in case the service recipient during his visit in India make the payment in INR, what .....

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..... will be the impact on GST and Input tax credit availability on such export. Regards Kavita Sharma Reply By Kishan Barai: The Reply: There would be Zero GST on exports of goods, even you paid at the time of purchasing goods you will be refunded GST Completely. Reply By MUKUND THAKKAR: The Reply: Payment recd via Vostro Account is ok, but in case the service recipient during his visit in In .....

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..... dia make the payment in INR, what will be the impact on GST and Input tax credit availability on such export. if service is providing in India during his visit it is not treated as export service, you have to pay applicable CGST and SGST.. Reply By KASTURI SETHI: The Reply: Sh.Mukund Thakkar Ji, Yes, Sir. If performance/enjoyment of service is in India in any way/form/manner, the querist sho .....

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..... uld not talk of export benefits.
Discussion Forum - Knowledge Sharing .....

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