Import igst credit

Shivani (Learner) (1881 Points)

18 October 2016  

Dear Friends

X of Punjab imports goods of Rs. 10000.

he pays BCD 12% Rs. 1200

IGST 18% (rate assumed) 18% x 11200 = 2016

Importer Cost = 10000+1200+2016 =13216

Now X sells goods to Y in Punjab as under:

Cost                13216

Add Margin:    31784

Total               45000

CGST 9%         4050

SGST 9%         4050

Invoice Value  53100

My question is will Y get credit of IGST 2016 or will this credit of IGST will be available to importer X and he will pay CGST and SGST after adjusting IGST against CGST and SGST?

Y of course will get credit of CGST and SGST paid by him.

Also i wish to ask as to whether there is any credit available in respect of BCD under any law to anyone?