Question ID :
38126
Igst credit/refund of re-export of customs rejected goods
An import is made (100 Tons). Bill of entry for home consumption made and IGST paid on full 100 Tons. . On physical examination, customs disallowed import of 15 tons. This 15 tons is re-exported.
Question
1. Is it possible to claim IGST ITC on full 100 Tons or on only 85 Tons?
2. If ITC allowed on 15Tons, whether this ITC on 15Tons can utilised on other domestic sales of company or have to be applied for refund?
Posted by
Sivaraman A.R.
on
May 06, 2019
Filed Under
GST
The ITC will be available only on 85 Tons. the 2nd question does not arises
Posted by
CA. BISHT RAKESH on
May 06, 2019
Answer ID :
76536
Thanks a lot for your answer sir. Can you please enlighten me which GST provision section does not alllow ITC on 15 Tons?
Posted by
Sivaraman A.R. on
May 06, 2019
Answer ID :
76542
YOU WILL BE ELIGIBLE TO TAKE CREDIT OF IPT FOR ONLY 85 TONS. NOT ONLY PAYMENT OF TAX, BUT ALSO RECEIPT OF GOODS/ SERVICES IS REQUIRED TO CLAIM IPT.
AS 15 TONS WERE RE EXPORTED, YOU CAN CLAIM REFUND OF IGST PAID ON THE SAID QTY.
WHY DID YOU PAY IGST BEFORE CUSTOMS CLEARANCE ?
/
Posted by
CA. VENKITARAMAN K V on
May 07, 2019