As you know, export of goods from India attracts nil GST. However, if GST is paid at any point of time against exports from India can be either refunded or can be exported under bond without paying GST. If IGST is involved on any exports from India, the Export Invoice has to be reflected an endorsement as “Supply meant for Export on Payment of IGST” or “Supply meant for Export under bond without payment of IGST”.
Any movement of goods for export where IGST is leviable can be effected in two methods. Either the exporter from India can pay IGST in advance and gets refund later after exports by submitting required documentary proof for exports or the exporter can execute a bond against IGST leviable against such goods. If a bond is executed by an exporter against IGST payable against such export goods, the exporter can cancel such bond by producing required proof of documents of exports.