Export and import under GST are treated as interstate supply and hence governed mostly by the IGST act. As per the IGST act, there are two ways to export goods or services in India which are as follows:
Export of goods and services without payment of IGST
Export of goods and services with payment of IGST.
For the second option, one need to pay IGST according to the domestic trade, however one can claim the refund later on. However, if someone wants to export the goods or services from India without payment of IGST, then he needs to furnish a bond or letter of undertaking (LUT) with the department.
TradeSNS hope that the majority of netizens comply with the relevant laws and regulations of the network, and prohibit the release of all kinds of sensitive false information;
At the same time TradeSNS will crack down all kinds of illegal dissemination activities and harmful information, building a harmonious space.