Input tax credit on imported goods

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..... Input tax credit on imported goods
Query (Issue) Started By: - Yatin Bhopi Dated:- 10-8-2017 Last Reply Date:- 11-8-2017 Goods and Services Tax - GST
Got 3 Replies
GST
Dear expert We are .....

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..... manufacturer and regularly import our raw materials. IGST paid goods on which bill of entry is received and goods laying at port or warehouse outside factory whether eligible to avail Input tax credi .....

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..... t as per Section 16 (2) (b) and will be treated as receipt of goods? Reply By Ganeshan Kalyani: The Reply: When you clear the goods from the customs import duty is payable. Reply By Yatin Bhopi: Th .....

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..... e Reply: Sir, My query is once we paid the taxes on imprted goods and on recipt of bill of entry (but goods still laying at port or in rented wearhouse outside factory) are we eligible to avail inpu .....

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..... t tax credit? Reply By Ramaswamy S: The Reply: ITC is eligible only if the goods are received and tax is paid on them. If the goods are not received, then the credit cannot be claimed In the instant .....

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..... case, the place where the goods are stored is to be declared as additional place of business an then the credit can be availed. Regards S.Ramaswamy
Discussion Forum - Knowledge Sharing .....

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