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Tag: IGST

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Input Tax Credit under GST 1

Insight to new rules of Input Tax credit

India could face a tax landmine with authorities beginning to question input tax credit claimed by companies in lieu of Goods and Services Tax (GST) paid by their vendors. The authorities have already started sending notices to businesses, confirming fears that scrutiny will increase in the new financial year as the government looks to plug

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Export Without Payment of IGST

Entities involved in export of goods or services having GST Registration are allowed to export goods without payment of IGST by furnishing an export bond or Letter of Undertaking (LUT) in Form GST RFD-11. PROCEDURE FOR APPLICATION OF LETTER OF UNDERTAKING NUMBER: According to the Central Goods and Services Tax Rules, 2017 any registered person exporting

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