Export of Goods & Export of Services under GST| Rule 96A| Export Register under GST|CA Devesh Thakur @cadeveshthakur #gst #tax #incometax #cadeveshthakur Dear Viewers, 🎥 Welcome to CA Devesh Thakur's TH-cam channel, your one-stop destination for GST, taxation, accounting, and finance insights! 🚀 Today we’ll be diving deep into the concept of Export of Goods and Export of Services under the GST Act. This topic is crucial for businesses involved in international trade, and we’ll also cover Rule 96A, which deals with exports under a Letter of Undertaking (LUT) or Bond. Let’s get started! Exports under GST are considered zero-rated supplies under Section 16 of the IGST Act, 2017. This means that while exports are taxable, the tax rate is 0%, allowing exporters to claim refunds of input tax credit (ITC) or export without payment of IGST under certain conditions. What is Export under GST? The term "Export" under GST is divided into two broad categories: Export of Goods and Export of Services. These are defined under the GST Act as follows: . Export of Goods (Section 2(5) of IGST Act, 2017): Export of goods means taking goods out of India to a place outside India. In simple terms: If goods physically leave the boundaries of India, it qualifies as an export of goods. Example: A manufacturer in Mumbai ships machinery to a buyer in Germany. Key points for export of goods: It is treated as zero-rated supply, meaning no GST is charged on the export. Input Tax Credit (ITC) on inputs used in manufacturing or supplying such goods can be claimed as a refund. Index 00:00 to 02:55 Export of goods 02:56 to 06:26 Rule 96A 06:27 to 07:51 Export of Services 🎥 Hello, lovely viewers! Welcome back to the @cadeveshthakur channel! 🎉 TH-cam Channel: www.youtube.com/@cadeveshthakur TDS ki कक्षा: th-cam.com/play/PL1o9nc8dxF1RqxMactdpX3oUU2bSw8-_R.html E-commerce sellers: th-cam.com/play/PL1o9nc8dxF1ShUNXkAbYrAYj2Pile1Rim.html GST Knowledge Bank: th-cam.com/play/PL1o9nc8dxF1RjdRrG4ZKXeJNed6ekhjoR.html Goods & Services Tax: th-cam.com/play/PL1o9nc8dxF1SlBw2kSpZ9ay1jnEOkbDYN.html TDS: th-cam.com/play/PL1o9nc8dxF1RXi2GaEckeXGmJy_FYOj9q.html Shorts for Accountants, Professionals, Finance, Students: th-cam.com/play/PL1o9nc8dxF1TqoRTWoA1_l0kmtsbyNEB5.html Accounting concept, Entries, Final Accounts preparation: th-cam.com/play/PL1o9nc8dxF1T4GSjBPboXxBgFgkVZmDbQ.html Direct Taxation: th-cam.com/play/PL1o9nc8dxF1S7BBNeuL3fzV_fDl9V88C2.html 🎥 Hello, lovely viewers! Welcome back to the @cadeveshthakur channel! 🎉 I’m thrilled to have you here, and I want to connect with you beyond TH-cam. Let’s take our journey together to the next level! 😊 LinkedIn: www.linkedin.com/in/cadeveshthakur/ Instagram: instagram.com/cadeveshthakur/ Twitter: twitter.com/cadeveshthakur Facebook: facebook.com/cadevesh Whatsapp Group: whatsapp.com/channel/0029Va6GOVE9MF92Ylmo7e0L #cadeveshthakur cadeveshthakur.com/ Remember, our community is more than just a channel-it’s a family. Let’s connect, learn, and grow together! Hit that Subscribe button, tap the notification bell, and let’s spread financial wisdom one click at a time. 🚀 Remember, knowledge empowers us all! Let’s learn together and navigate the complex world of finance with curiosity and diligence. Thank you for being part of the cadeveshthakur community! 🙌 Disclaimer: The content shared on this channel is purely for educational purposes. As a Chartered Accountant, I strive to provide accurate and insightful information related to GST, income tax, accounting, and tax planning. However, please note that the content should not be considered as professional advice or a substitute for personalized consultation. If you found this video helpful, don’t forget to LIKE 👍, SHARE ↗ it with your friends, and SUBSCRIBE 🔔 to my channel, cadeveshthakur, for regular updates on GST, accounting, finance, and the latest market insights. ✨ Press the Bell Icon 🔔 so you never miss an update and get notified the moment I upload a new video packed with valuable information just for you! Your support helps me create more content to simplify complex topics and keep you informed. Thank you! 😊
Export of Goods & Export of Services under GST| Rule 96A| Export Register under GST|CA Devesh Thakur @cadeveshthakur #gst #tax #incometax #cadeveshthakur
Dear Viewers,
🎥 Welcome to CA Devesh Thakur's TH-cam channel, your one-stop destination for GST, taxation, accounting, and finance insights! 🚀
Today we’ll be diving deep into the concept of Export of Goods and Export of Services under the GST Act. This topic is crucial for businesses involved in international trade, and we’ll also cover Rule 96A, which deals with exports under a Letter of Undertaking (LUT) or Bond. Let’s get started!
Exports under GST are considered zero-rated supplies under Section 16 of the IGST Act, 2017. This means that while exports are taxable, the tax rate is 0%, allowing exporters to claim refunds of input tax credit (ITC) or export without payment of IGST under certain conditions.
What is Export under GST?
The term "Export" under GST is divided into two broad categories: Export of Goods and Export of Services. These are defined under the GST Act as follows:
. Export of Goods (Section 2(5) of IGST Act, 2017):
Export of goods means taking goods out of India to a place outside India.
In simple terms:
If goods physically leave the boundaries of India, it qualifies as an export of goods.
Example: A manufacturer in Mumbai ships machinery to a buyer in Germany.
Key points for export of goods:
It is treated as zero-rated supply, meaning no GST is charged on the export.
Input Tax Credit (ITC) on inputs used in manufacturing or supplying such goods can be claimed as a refund.
Index
00:00 to 02:55 Export of goods
02:56 to 06:26 Rule 96A
06:27 to 07:51 Export of Services
🎥 Hello, lovely viewers! Welcome back to the @cadeveshthakur channel! 🎉
TH-cam Channel: www.youtube.com/@cadeveshthakur
TDS ki कक्षा: th-cam.com/play/PL1o9nc8dxF1RqxMactdpX3oUU2bSw8-_R.html
E-commerce sellers: th-cam.com/play/PL1o9nc8dxF1ShUNXkAbYrAYj2Pile1Rim.html
GST Knowledge Bank: th-cam.com/play/PL1o9nc8dxF1RjdRrG4ZKXeJNed6ekhjoR.html
Goods & Services Tax: th-cam.com/play/PL1o9nc8dxF1SlBw2kSpZ9ay1jnEOkbDYN.html
TDS: th-cam.com/play/PL1o9nc8dxF1RXi2GaEckeXGmJy_FYOj9q.html
Shorts for Accountants, Professionals, Finance, Students: th-cam.com/play/PL1o9nc8dxF1TqoRTWoA1_l0kmtsbyNEB5.html
Accounting concept, Entries, Final Accounts preparation: th-cam.com/play/PL1o9nc8dxF1T4GSjBPboXxBgFgkVZmDbQ.html
Direct Taxation: th-cam.com/play/PL1o9nc8dxF1S7BBNeuL3fzV_fDl9V88C2.html
🎥 Hello, lovely viewers! Welcome back to the @cadeveshthakur channel!
🎉 I’m thrilled to have you here, and I want to connect with you beyond TH-cam. Let’s take our journey together to the next level! 😊
LinkedIn: www.linkedin.com/in/cadeveshthakur/
Instagram: instagram.com/cadeveshthakur/
Twitter: twitter.com/cadeveshthakur
Facebook: facebook.com/cadevesh
Whatsapp Group: whatsapp.com/channel/0029Va6GOVE9MF92Ylmo7e0L
#cadeveshthakur
cadeveshthakur.com/
Remember, our community is more than just a channel-it’s a family. Let’s connect, learn, and grow together! Hit that Subscribe button, tap the notification bell, and let’s spread financial wisdom one click at a time. 🚀 Remember, knowledge empowers us all! Let’s learn together and navigate the complex world of finance with curiosity and diligence. Thank you for being part of the cadeveshthakur community! 🙌
Disclaimer: The content shared on this channel is purely for educational purposes. As a Chartered Accountant, I strive to provide accurate and insightful information related to GST, income tax, accounting, and tax planning. However, please note that the content should not be considered as professional advice or a substitute for personalized consultation.
If you found this video helpful, don’t forget to LIKE 👍, SHARE ↗ it with your friends, and SUBSCRIBE 🔔 to my channel, cadeveshthakur, for regular updates on GST, accounting, finance, and the latest market insights.
✨ Press the Bell Icon 🔔 so you never miss an update and get notified the moment I upload a new video packed with valuable information just for you!
Your support helps me create more content to simplify complex topics and keep you informed. Thank you! 😊
One of the good explanation in case of exports
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