Import of goods related query

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This query is : Resolved

Quick Summary

If you've imported goods and paid IGST, you can generally claim this as Input Tax Credit (ITC) to offset your GST liability on local sales in Maharashtra. This is possible provided you have a valid Bill of Entry and proof of payment for both customs duty and IGST. Once confirmed eligible, this IGST ITC can be used against any outward GST, including CGST and SGST.

deepak

deepak (Querist)

03 June 2022 One client import of goods through Courier Bill of Entry-XIV for Home Consumption and paid igst 80000 on import . Same amount reflected in GSTR-2b. So can he take ITC against local sale in Maharashtra

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

03 June 2022 Yes ITC can be taken in local sales.

CA Altamush Zafar

CA Altamush Zafar (Expert)

03 June 2022 You can take ITC if you have a valid document of paying GST. Only reflection in gstr2b doesn't entitle you to ITC. If after considering all conditions ITC is available then you can utilise it for gst on any sale.

deepak

deepak (Querist)

03 June 2022 YES we have bill of entry and payment detail( custom duty and IGST paid) details also mentioned in bill of entry.

CA Altamush Zafar

CA Altamush Zafar (Expert)

03 June 2022 Good
Take IGST ITC and you can utilise the same for any outward gst (IGST/CGST/SGST)

CA Puja Sharma

CA Puja Sharma (Expert)

03 June 2022 Yes you can take ITC against BOE

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