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CA Final · Indirect Tax Laws · Import and Export Under GST

Kaveri Exports Pvt Ltd issued an export invoice for goods on 10 January under an LUT. The goods were not exported out of India, and the Commissioner has allowed no extension. Under Rule 96A, by when must it pay the tax along with interest under section 50(1)?

The tax with interest must be paid within fifteen days after three months from the invoice date, unless the Commissioner allows more time. This applies where goods are not exported. The one-year period relates to non-receipt of payment for services, not to non-export of goods.

  1. AWithin fifteen days after the expiry of three months from the invoice dateCorrect
  2. BWithin fifteen days after the expiry of one year from the invoice date
  3. CWithin thirty days from the date of the invoice
  4. DWithin three months from the invoice date, with no additional days

Explanation

Rule 96A(1)(a) fixes the period at fifteen days after the expiry of three months from the date of the export invoice (or a further period allowed by the Commissioner) when goods are not exported. The one-year period applies to services where payment is not received. The other options misstate the period.

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