GST Refund on Export of Goods
The GST refund on the export of goods allows exporters to recover the GST paid on inputs or services used in producing those goods. Exporters can claim this refund either by exporting under a bond or Letter of Undertaking (LUT) without paying IGST or by paying IGST and then claiming a refund. This process helps ensure that exports remain zero-rated, promoting competitiveness in global markets.