Whether customs duty paid for capital purchase from foreign country, can be taken as input credit against GST service tax output?
Madhukar N Hiregange
(Chartered Accountant)
(38934 Points)
Replied 26 February 2017
No the basic customs duty not available.
Import duites include basic + additional + special addl. The additional duties + special addtional duties are only eligible for credit. In GST they wouldbe merged and called IGST, credit of which wouldbe available.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"