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INPUT CREDIT

VIKAS MAHESHWARI (Accountant ) (43 Points)

14 February 2019

we bought material From China, In Bill of Entry breakup is
Material value
+Custom duty
+ GST
PLEASE ADVICE weather we avail input of Custom or Not..at Present GST Regine .

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5 Replies

CS M Pota (Company Secreatary) (3180 Points)
Replied 14 February 2019

The Customs duty structure is Basic Customs duty + Social Welfare Surcharge +IGST .You can take credit of IGST and setoff.

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VIKAS MAHESHWARI (Accountant ) (43 Points)
Replied 14 February 2019

Thanku for Reply But may you please be brief reason why we can not avail ITC of Custom..because at the Time of Excise we can Avail input of Custom

RAJA P M ("Do the Right Thing...!!!") (127171 Points)
Replied 14 February 2019

(because at the Time of Excise we can Avail input of Custom)

Answer also included in Your 2nd question.

Customs duty can't taken as ITC under GST...

BCD live without cancel / joint in GST...

1 Like

CS M Pota (Company Secreatary) (3180 Points)
Replied 14 February 2019

When Excise was in effect you could claim CENVAT against CVD countervailing duty /additional duty of Cutsoms and Special Additional Duty which was @ 4% if you go more in the past you clould claim CENVATE against Education Cess and H.S education cess which were @ 2% and 1% only against CVD countervailing duty /additional duty of Cutsoms (which were call education cess of excise ) but so far Basic Customs duty and Education cess and H S education cess of Customs are concerned you were not allowed to clian CENVAT against the same.

Hope this will cleare doubt.

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