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Export is no longer a complicated affair under new GST Law

We live in a free society and can be as gullible as we want. Plus, the pain of wasting money on bad advice can be a good learning experience. Dear exporters, if you want to skip that pain, then check out below... and remember 5 simple steps... and nothing more... and do simple export... which is your business. And stop rubbing your head in accounting... which was never your business...

My dear sharp minded exporters,

Only those with the most refined palates are able to adjudicate during the barbeque competition...

And those with incisive instincts enjoy the applauds on their biblical writings juxtaposing old law with modern themes...

If you are a foodie, like I am, who is only interested in eating tasty food...and is least interested in competition... then sharp ones... read below the exact procedure that an exporter should follow for exporting under the new GST law...

Point # 1 - There are 3 types of exports:

When goods or services are actually exported
When goods or services are supplied to SEZ (Special Economic Zone) and
When goods or services are deemed to be exported.

Sharp minded foodies relish eating one dish at a time, so I would restrict on myself in detailing point # 1.1 only...

Point # 2 - Export could be done either:

after payment of GST or
without paying any GST (viz under a bond or LUT)

Point # 3 - Procedure in both the cases is more or less similar... with a little tweak... here or there...

Point # 4: The export-procedure has 6 simple steps:

Submit bond or LUT:
Follow this step only if you don't want to pay GST.
Before exporting, submit a bond or Letter of Undertaking (LUT).
The bond of LUT is in form GST RFD -11.
It should be submitted with the Jurisdictional DC/AC
You can submit it online or offline
You can refer rule 96A para 1 of CGST Rules 2017
Issue invoice
Export invoice has 17 items ;
16 of those are mentioned in normal invoices too
the 17th item (ie last item) is a declaration
if export is done on payment of GST ---- then the declaration is "Supply meant for Export on Payment of IGST”
if export is done under bond or LUT ---- then the declaration is "“Supply meant for Export under bond/LUT without payment of IGST”
Invoice is generated under section 31 and rule 41 of the CGST Rules 2017...
Get the shipping bill or bill of export issued
Nothing has changed... except that ... now... the person incharge of the conveyance carrying goods for export has to mention some details like GSTIN etc... so as to identify and connect your taxable invoice with the Shipping bill or bill of export
And now there is only 1 tax ...ie... IGST...thats it...
Of-course... this is good... this would link everything electronically...but... beware... no mistakes... even a single digit... would break the link...
Get the EGM (Export General Manifest) filed for the export:
EGM acts as a confirmation... it confirms that export has actually taken place...
Of-course... it has also been modified to include GSTIN etc...
Mention the export in the return GSTR-1
GSTR -1 has 13 items.
Point # 6 -"Zero-rated supplies and deemed exports" is where you should mainly focus and mention correct:
Invoice-wise details
Shipping bill details/Bill of Export details
Sharp-minds... you don't have to worry about - how the details of the export invoices are transmitted to the system designated by Customs and or how the confirmation that the goods covered by the said invoices have been exported out of India is received... this all happens electronically... only thing you should keep in mind... is that you fill GSTR-1 rightly...
File the returns GSTR-3 or GSTR-3B:
GSTR-3 is a monthly return
It has 15 items
Many of them are auto-populated.

Point # 5: Special treatment (compliance) in case of export of services:

Sharp ones, you must be smelling something fishy... you must be thinking that how can there be any shipping bill or bill of export or EGM in the case of Export of services...

You are right....Point # 4.3 and 4.4 above do not apply to export of services...

But then, how is the export of services confirmed? The only way to confirm them is through realization of convertible foreign exchange.

Point # 6: Arrr.... this is not related to export... this is for claiming refund...

I would punch the link for refund article... here <--------------> once I make it...

Wishing you a very good luck!!!

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Export is no longer a complicated affair under new GST Law

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I have edited the ripple to include the amendments made after Oct 2017 GST council meeting. Earlier, status-holder exporter was only entitled to apply for LUT; Now any exporter (unless he is a blacklisted one) can apply...

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My dear sharp minded exporters,Only those with the most refined palates are able to&nbsp;adjudicate&nbsp;during the barbeque competition...And those with incisive instincts enjoy the applauds on their biblical writings juxtaposing old law with modern themes... If you are a foodie, like I am, who is only interested in eating tasty food...and is least interested in competition... then sharp ones... read below the exact procedure that an exporter should follow for exporting under the new GST law... <iframe style="border:0;" border="0" src="https://www.youtube.com/embed/JHHmt6FPTxQ?showinfo=0"></iframe>Point # 1 - There are 3 types of exports:<ol><li>When goods or services are actually exported</li><li> When goods or services are supplied to SEZ (Special Economic Zone) and</li><li>When goods or services are deemed to be exported.</li></ol> Sharp minded foodies relish eating one dish at a time, so I would restrict on myself in detailing point # 1.1 only... Point # 2 - Export could be done either:<ul><li>after payment of GST or </li><li>without paying any GST (viz under a bond or LUT)</li></ul> Point # 3 - Procedure in both the cases is more or less similar... with a little tweak... here or there...Point # 4: The export-procedure has 6 simple steps:<ol><li>Submit bond or LUT: </li><li class="ql-indent-1">Follow this step only if you don't want to pay GST.</li><li class="ql-indent-1">Before exporting, submit a bond or Letter of Undertaking (LUT).</li><li class="ql-indent-1">The bond of LUT is in form GST RFD -11.</li><li class="ql-indent-1">It should be submitted with the Jurisdictional DC/AC</li><li class="ql-indent-1">You can submit it online or offline</li><li class="ql-indent-1">You can refer rule 96A para 1 of CGST Rules 2017</li><li>Issue invoice</li><li class="ql-indent-1">Export invoice has 17 items ;</li><li class="ql-indent-1">16 of those are mentioned in normal invoices too</li><li class="ql-indent-1">the 17th item (ie last item) is a declaration </li><li class="ql-indent-2">if export is done on payment of GST ---- then the declaration is "Supply meant for Export on Payment of IGST”</li><li class="ql-indent-2">if export is done under bond or LUT ---- then the declaration is "“Supply meant for Export under bond/LUT without payment of IGST”</li><li class="ql-indent-1">Invoice is generated under section 31 and rule 41 of the CGST Rules 2017...</li><li>Get the shipping bill or bill of export issued</li><li class="ql-indent-1">Nothing has changed... except that ... now... the person incharge of the conveyance carrying goods for export has to mention some details like GSTIN etc... so as to identify and connect your taxable invoice with the Shipping bill or bill of export</li><li class="ql-indent-1">And now there is only 1 tax ...ie... IGST...thats it...</li><li class="ql-indent-1">Of-course... this is good... this would link everything electronically...but... beware... no mistakes... even a single digit... would break the link...</li><li>Get the EGM (Export General Manifest) filed for the export:</li><li class="ql-indent-1">EGM acts as a confirmation... it confirms that export has actually taken place...</li><li class="ql-indent-1">Of-course... it has also been modified to include GSTIN etc...</li><li>Mention the export in the return GSTR-1</li><li class="ql-indent-1">GSTR -1 has 13 items. </li><li class="ql-indent-1">Point # 6 -"Zero-rated supplies and deemed exports" is where you should mainly focus and mention correct:</li><li class="ql-indent-2">Invoice-wise details</li><li class="ql-indent-2">Shipping bill details/Bill of Export details</li><li class="ql-indent-1">Sharp-minds... you don't have to worry about - how the details of the export invoices are transmitted to the system designated by Customs and or how the confirmation that the goods covered by the said invoices have been exported out of India is received... this all happens electronically... only thing you should keep in mind... is that you fill GSTR-1 rightly... </li><li>File the returns GSTR-3 or GSTR-3B:</li><li class="ql-indent-1">GSTR-3 is a monthly return</li><li class="ql-indent-1">It has 15 items</li><li class="ql-indent-1">Many of them are auto-populated.</li></ol> <iframe style="border:0;" border="0" src="https://www.youtube.com/embed/skdY6P44XGE?showinfo=0"></iframe>Point # 5: Special treatment (compliance) in case of export of services:Sharp ones, you must be smelling something fishy... you must be thinking that how can there be any shipping bill or bill of export or EGM in the case of Export of services... You are right....Point # 4.3 and 4.4 above do not apply to export of services...But then, how is the export of services confirmed? The only way to confirm them is through realization of convertible foreign exchange. Point # 6: Arrr.... this is not related to export... this is for claiming refund...I would punch the link for refund article... here &lt;--------------&gt; once I make it... Wishing you a very good luck!!!

My dear sharp minded exporters,Only those with the most refined palates are able to adjudicate during the barbeque competition...And those with incisive instincts enjoy the applauds on their biblical writings juxtaposing old law with modern themes... If you are a foodie, like I am, who is only interested in eating tasty food...and is least interested in competition... then sharp ones... read below the exact procedure that an exporter should follow for exporting under the new GST law... <iframe style="border:0;" border="0" src="https://www.youtube.com/embed/JHHmt6FPTxQ?showinfo=0"></iframe>Point # 1 - There are 3 types of exports:<ol><li>When goods or services are actually exported</li><li> When goods or services are supplied to SEZ (Special Economic Zone) and</li><li>When goods or services are deemed to be exported.</li></ol> Sharp minded foodies relish eating one dish at a time, so I would restrict on myself in detailing point # 1.1 only... Point # 2 - Export could be done either:<ul><li>after payment of GST or </li><li>without paying any GST (viz under a bond or LUT)</li></ul> Point # 3 - Procedure in both the cases is more or less similar... with a little tweak... here or there...Point # 4: The export-procedure has 6 simple steps:<ol><li>Submit bond or LUT: </li><li class="ql-indent-1">Follow this step only if you don't want to pay GST.</li><li class="ql-indent-1">Before exporting, submit a bond or Letter of Undertaking (LUT).</li><li class="ql-indent-1">The bond of LUT is in form GST RFD -11.</li><li class="ql-indent-1">It should be submitted with the Jurisdictional DC/AC</li><li class="ql-indent-1">You can submit it online or offline</li><li class="ql-indent-1">You can refer rule 96A para 1 of CGST Rules 2017</li><li>Issue invoice</li><li class="ql-indent-1">Export invoice has 17 items ;</li><li class="ql-indent-1">16 of those are mentioned in normal invoices too</li><li class="ql-indent-1">the 17th item (ie last item) is a declaration </li><li class="ql-indent-2">if export is done on payment of GST ---- then the declaration is "Supply meant for Export on Payment of IGST”</li><li class="ql-indent-2">if export is done under bond or LUT ---- then the declaration is "“Supply meant for Export under bond/LUT without payment of IGST”</li><li class="ql-indent-1">Invoice is generated under section 31 and rule 41 of the CGST Rules 2017...</li><li>Get the shipping bill or bill of export issued</li><li class="ql-indent-1">Nothing has changed... except that ... now... the person incharge of the conveyance carrying goods for export has to mention some details like GSTIN etc... so as to identify and connect your taxable invoice with the Shipping bill or bill of export</li><li class="ql-indent-1">And now there is only 1 tax ...ie... IGST...thats it...</li><li class="ql-indent-1">Of-course... this is good... this would link everything electronically...but... beware... no mistakes... even a single digit... would break the link...</li><li>Get the EGM (Export General Manifest) filed for the export:</li><li class="ql-indent-1">EGM acts as a confirmation... it confirms that export has actually taken place...</li><li class="ql-indent-1">Of-course... it has also been modified to include GSTIN etc...</li><li>Mention the export in the return GSTR-1</li><li class="ql-indent-1">GSTR -1 has 13 items. </li><li class="ql-indent-1">Point # 6 -"Zero-rated supplies and deemed exports" is where you should mainly focus and mention correct:</li><li class="ql-indent-2">Invoice-wise details</li><li class="ql-indent-2">Shipping bill details/Bill of Export details</li><li class="ql-indent-1">Sharp-minds... you don't have to worry about - how the details of the export invoices are transmitted to the system designated by Customs and or how the confirmation that the goods covered by the said invoices have been exported out of India is received... this all happens electronically... only thing you should keep in mind... is that you fill GSTR-1 rightly... </li><li>File the returns GSTR-3 or GSTR-3B:</li><li class="ql-indent-1">GSTR-3 is a monthly return</li><li class="ql-indent-1">It has 15 items</li><li class="ql-indent-1">Many of them are auto-populated.</li></ol> <iframe style="border:0;" border="0" src="https://www.youtube.com/embed/skdY6P44XGE?showinfo=0"></iframe>Point # 5: Special treatment (compliance) in case of export of services:Sharp ones, you must be smelling something fishy... you must be thinking that how can there be any shipping bill or bill of export or EGM in the case of Export of services... You are right....Point # 4.3 and 4.4 above do not apply to export of services...But then, how is the export of services confirmed? The only way to confirm them is through realization of convertible foreign exchange. Point # 6: Arrr.... this is not related to export... this is for claiming refund...I would punch the link for refund article... here <--------------> once I make it... Wishing you a very good luck!!!

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Export is no longer a complicated affair under new GST Law