Home Forum Customs - Exim - SEZ Month 7 2021 2021 (7) This
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IGST interest is it applicable during Re Import of Export goods - Customs - Exim - SEZExtract Dear Sirs We have done an import for customer where in exports of garments 5 shipments valued approx 5cr, export done under LUT has been found quality defect at destination and due to Covid 19 and not possible travel for any repair, it is returned back. It is not sure of re export so filed as re import only. (not repair and return) All benefits of export Drawback and Rosctl has been paid along with interest. IGST 5% customer is ready to pay and will apply for ITC. However customs is asking for interest 18% on IGST applicable from date of export until return of goods. Importer is already under loss due to return, and the sale is incomplete. In that case is it mandatory to pay IGST during import ? Interest on IGST applicable ? Kindly give your comments and reply sir.
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