IGST Paid on Import , Shortage material receipt

This query is : Resolved

bhavik mehta (Querist)
Follow

13 February 2021 Dear Sir,

I have a case of IGST paid on Import of 100 Tonne. However, it was short receipt 95 Tonne. Do I require to reverse GST credit on shortage of material received ?

If you can explain with provision reference and also with pre GST Excise provision comparative reference, it would be great.
Thanks in advance.

CA Altamush Zafar

CA Altamush Zafar (Expert)
Follow

13 February 2021 As per section 16(2) one of the conditions to avail ITC is that you should have received the goods or service. Since goods were not received proportionate ITC needs to be reversed.

bhavik mehta

bhavik mehta (Querist)
Follow

13 February 2021 @ CA Altamush Zafar, I believe then I need to take refund of IGST Paid for shortage of material. Why I should pay Tax on good which is not received ?!

And it's a normal loss in transit. Any change in view ???

CA Altamush Zafar

CA Altamush Zafar (Expert)
Follow

13 February 2021 No change in view.
You have paid GST on imports as per customs valuations.
You have to take itc as per GST law.
Refund is allowed of itc which are eligible.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Abhishek Kabra

Shubham Jain

S J MITRA

RAJ SANKLECHA

Sameer

Subscribe Now

IGST Paid on Import , Shortage material receipt

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA