EXPORT OF GOODS OR SERVICES UNDER GST
INTRODUCTION: In this article, we will throw light upon aspects related to exports and its consequences under GST law. Earlier, the exports were exempt under service tax and excise act. But the situation is quite different in the GST. GST act provides the definition of export of goods or services and also specify the manner in which the export is to be dealt with and its reporting in the GST returns . WHAT IS EXPORT OF GOODS: Section2 (5) of IGST Act defines the export of goods with it grammatical variation and cognate expression means taking out of India to a place outside India. WHAT IS EXPORT OF SERVICES: Section 2(6) of IGST Act defines Export of Services as Supply of any services when: (i) The supplier of services is located in India; (ii) The recipient of services is located outside India; (iii) The place of supply of services is outside India; (iv) the payment for such service has been received by the supplier