On the basis of GST returns filed by the taxpayers, nowadays the department is sending notices for the verification of Merchant export transactions.
Some time manufacturers may have failed to meet any of the stipulated conditions and therefore face the demand for differential tax (Tax leviable on the sale of goods as per standard rate-actual tax levied (0.1%)).
Along with Tax demanded, tax payer is also liable for the interest from the date of invoices till the date of payment of difference tax and penalty.
Therefore as a part of audit verification process. Template for verification of Merchant Export Trasnction enclosed.
Note:- “Merchant Export” menas supply the goods to Indian (Intra state or Inter state) recipient, who is ultimately exporting the Goods outside India
