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All QuestionsCategory: GST ConsultancyEXPORT UNDER LUT BY MERCHANT EXPORTER UNDER LUT
Profile photo of MAHENDRA KUMAR JALANMAHENDRA KUMAR JALAN asked 2 years ago

EXPORT UNDER LUT BY MERCHANT EXPORTER UNDER LUT

WE ARE TRADER OF CHEMICALS. WE PURCHASE MATERIAL WITHIN INDIA AND SALE THEM MAINLY IN INDIA.IN SOME CASES WE EXPORT TO BANGLADESH. WE EXPORT WITHOUT PAYMENT OF IGST UNDER LUT. CAN WE TAKE INPUT CREDIT ON GOODS PURCHASED FROM INTERSTATE BY PAYING IGST OR WE ARE TO APPLY FOR REFUND OF SUCH INPUT IGST FROM GST DEPPT? PLEASE ADVISE.

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1 Answers
Profile photo of Deepa N. TannaCMA Deepa N. Tanna answered 2 years ago

YES…YOU CAN TAKE INPUT CREDIT ON GOOD PURCHASED AND YOU CAN CLAIM REFUND OF SUCH GST PAID ON GOOD PURCHASED FOR EXPORTS. YOU NEED TO APPLY FOR REFUND AND NEED TO SUBMIT FORM “GST RFD-01” ONLINE. 
SOME OF THE ANNEXURES WILL HAVE TO BE SUBMITTED CONTAINING DETAILS OF EXPORT BILL, LIST OF INPUT CREDIT TAKEN – BILLWISE AND DIFFERENT DECLARATIONS.
HOWEVER, THERE IS ONE OPTION AVAILABLE FOR EXPORT MERCHANT THAT IS PURCHASE AT REDUCED RATE @0.1% IF SUCH PURCHASE IS FOR EXPORT PURPOSE.