TMI BlogIGST Input Credit on goods received from overseas OEM Supplier on LOANX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir, Can we avail IGST input credit on the material IMPORTED for demonstration purpose on payment of duty. Please note that the imported material is received on LOAN basis. No foreign exchange is involved. However, applicable import duty is paid. Please suggest. Regards Saravanan. - Reply By KASTURI SETHI - The Reply = Yes because it is in the course of business or furtherance of busine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ss .Presuming that the word'material' stands for machinery, when the goods are to be returned proportionate credit will have to be reversed. - Reply By subramanian vijayakumar - The Reply = I agree with expert Sethy sir views - Reply By Kishan Barai - The Reply = Totally agree with the views of shree KASTURI SETHI sir, you will get refund of IGST paid at the time of imports but mak ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e sure you need to sell with products with bill GST has to be charged in it, only by demonstration no sales, then no ITC on import duty IGST can be claimed. - Reply By KASTURI SETHI - The Reply = Sh.Krishan Barai, Sir You seldom appear in this forum. Pl. participate daily. I think you can spare 15-20 minutes daily which matter a lot for this forum as well as visitors and experts. - IGST In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... put Credit on goods received from overseas OEM Supplier on LOAN - Query Started By: - saravanan rengachary Dated:- 9-11-2017 Goods and Services Tax - GST - Got 4 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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