Paying excess IGST

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..... Paying excess IGST
Query (Issue) Started By: - Rajesh Kumar Dated:- 8-12-2019 Last Reply Date:- 15-12-2019 Goods and Services Tax - GST
Got 5 Replies
GST
Sir , please inform what will be consequences when an exporter paying IGST on his goods on export @12% instead of 5% and taking IGST refund from Customs. Actually he is paying excess duty than applicable on the rate and taking IGST r .....

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..... efund. Reply By Rajagopalan Ranganathan: The Reply: Sir, As far as export of goods is concerned whatever IGST paid by exporter the same will be refunded. Hence the question whether you have paid excess IGST is not the concern of the Customs Officer who sanction the refund on line. Moreover the allegation that to claim more refund you have paid excess IGST will not hold water since whatever IGST .....

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..... paid by you will be refunded to you. Therefore you need not worry about payment of IGST at higher rate. Reply By KASTURI SETHI: The Reply: Such practice is legally wrong and should be stopped immediately. The department may consider such excess payment as modus operandi to encash accumulated ITC. You cannot pay any tax on your own volition. You cannot pay tax more than than prescribed rate. Y .....

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..... ou may invite interest and penalty. Reply By Atul Rathod: The Reply: Agree with Kasthuri Ji. Though there are favorable judicial pronouncement in Excise but in GST the said practice could lead to litigation. Reply By Adarsh Sharma: The Reply: Agree with Kasthuri Ji, department will take a stand that to encash the accumulated ITC you have purposefully paid IGST at higher rate and they will rec .....

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..... over such excess along with interest Reply By Rajendra Prasad: The Reply: Dear Mr Rajesh, Please stop this practise immediately, Agree with Kasthuri Ji
Discussion Forum - Knowledge Sharing .....

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