IGST on Exports
Is IGST on taxable outward supply – exports differed for until 31st March 2018 ?
It was so stated by Isaac Thomas in Financial Express that “the government has also decided to exempt exporters from IGST for next 6 months” Was he referring to IGST on outward supply or IGST on imports. If the reference was made to IGST on outward supply whether LUT is suspended as well ?
Exporters will furnish LUT and exempt from paying IGST on their outward supplies. They can claim refund of IGST paid on input.
Thomas Isaac said that the government aims to implement the e-wallet facility by March. Till then, exporters will continue to get pre-GST exemptions,
CA Anita Bhadra.