Import of goods
This query is : Resolved
11 September 2017
How can post import Goods under GST ? How can get input credit on import and custom duty can you please explain by example. We imported goods from Taiwan for US $ 6500, exchange rate on BOE is 65.15. We have paid custom duty Rs. 81932/-, No CVD, No cess only IGST 18% have charged by custom house. Custom duty calculation component is Value $ 6500, Freight $ 225, Insurance 1.125000%, Misc. Charges $ 118. Can you please explain how it posted as import purchase in GST ?
Thanks for reply. But how much I can show in RCM and adjustment of input in next month. Can I show RCM as IGST Rs.76225.5 or Rs. 81932/- or Rs. 90973.26 ( 18% on [{6500*65.15}+81932])? Please confirm.
Thanks for reply. But how much I can show in RCM and adjustment of input in next month. Can I show RCM as IGST Rs.76225.5 or Rs. 81932/- or Rs. 90973.26 ( 18% on [{6500*65.15}+81932])? Please confirm.
11 September 2017
You have to register under GST and file the return for payment of IGST on import. Gstr-2 under RCM. On filing the return you are eligible for full credit of IGST paid on import.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Post Office RD Interest
- Building and other construction workers welfare cess act 1996
- Applicable TDS for Purchase of Flat from NRI
- Eway bill for machinery reparing
- Bank Accounts in Balance Sheet for ITR 3
- ITR 3 FILING OF AN INDIVIDUAL (PARTNER IN A PARTNERSHIP fIRM)
- Annual return of gst limit
- TDS ON CASH WITHDRAWALS...
- Form 10BD Filling
- Registration as Authorised Representative of minor
- ESIC- Employee Registration
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
