We are importing machinery from Japan. We are paying GST around 37 lakhs on the said import. My query is 1) Wether the availed input tax can only be adjusted in Central tax? if so the 2) How long the input tax can be carried forward?
24 June 2022
IGST on import can be adjusted against CGST & SGST liabilities and there is no time limit to utilise the credit available in E-Credit Ledger.
CAclubindia
