Surgical goods ITC
This query is : Resolved
Quick Summary
22 October 2022
One client import of surgical goods for resale purpose and paid igst to the government at the time of import. Can he take ITC against local sale of Maharashtra
Dhirajlal Rambhia
(Expert)
22 October 2022
Yes.
In order to avail input tax credit of IGST and GST compensation cess, an importer has to mandatorily declare GST Registration number (GSTIN) in the Bill of Entry. Further, GSTR-2 must be filed by the importer along with GST tax invoice and other relevant documents for claiming input tax credit, but now the same has been discontinued.
In order to avail input tax credit of IGST and GST compensation cess, an importer has to mandatorily declare GST Registration number (GSTIN) in the Bill of Entry. Further, GSTR-2 must be filed by the importer along with GST tax invoice and other relevant documents for claiming input tax credit, but now the same has been discontinued.
22 October 2022
Import of goods cases, an importer need to file GSTR-2 online or offline to gst department?? OR only file bill of entry to custom department??
Dhirajlal Rambhia
(Expert)
22 October 2022
Importers can claim IGST and cess paid on their imports only after issuing the bill of entry (BoE). Hence, taxpayers must access the bill of entry on the portal to avail input tax credit seamlessly. The GST Network (GSTN) provides a framework to taxpayers for finding the relevant bill of entry. At times Bill of Entry (BoE) is not reflected in GSTR-2B, and we all are well aware the we cannot claim Input Tax Credit (ITC) of inward supplies not reflected in GSTR-2B.
Read more at: https://www.caclubindia.com/articles/credit-of-igst-paid-on-import-of-goods-not-reflected-in-gstr-2b-47630.asp
Read more at: https://www.caclubindia.com/articles/credit-of-igst-paid-on-import-of-goods-not-reflected-in-gstr-2b-47630.asp
Dhirajlal Rambhia
(Expert)
22 October 2022
So, no need to worry. You can claim ITC based on it.
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