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Customs - Highlights / Catch Notes

Home Highlights August 2017 Year 2017 This

Imports and Input Tax Credit (ITC) - importers are advised to ...

Customs

August 3, 2017

Imports and Input Tax Credit (ITC) - importers are advised to complete their registration process for GSTIN as ITC of IGST would be available based on GSTIN declared in the Bill of Entry.

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  1. Exporters advised to file Table 6A and GSTR 3B for processing of IGST Refund and for Refund of the unutilized Input Tax Credit;

  2. While PAN is identifier at the entity level, GSTIN would be used as identifier at the transaction level for every import and export. Further, in scenarios where GSTIN is...

  3. All importers / Exporters need to have fresh IEC code which will be same as PAN - Assessee registered with GSTN would be required to quote only GSTIN while import or...

  4. Cenvat Credit - rejection of CENVAT Credit based on non registration of input service distributor - receipt of input services at head office - credit allowed - AT

  5. Adjustment of tax liability – Out of input tax credit available – dealer can adjust current year tax liability out of Input Tax Credit available in credit of dealer -...

  6. Input tax credit - Whether ITC of IGST paid on bill to ship to’ model admissible to the applicant? - Held Yes

  7. Sub: Mandatory declaration of GSTIN, IEC and email address of importer in the Bills of Lading obtained by shipper: reg. - Trade Notice

  8. CENVAT credit - input services - the input services have suffered service tax and CENVAT credit can be taken by the appellant and the registration is not a mandatory...

  9. Denial of service tax credit - service tax registration numbers of the suppliers are not available on invoices – rectifiable mistake - credit allowed - AT

  10. Cenvat credit – Input service - Service Tax credit in respect of input service attributable to trading activities is not available. - AT

 

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