09 February 2024
Our client has imported of Goods through ECCS, but BOE entry is not shown in GSTR 2B / 2A of December 2023. Further data is not fetched through the GST portal under "Search BoE Records" So my question is, how to avail ITC on such import of goods? Here I attached a sample copy of BOE for your kind reference.
09 July 2024
When dealing with imported goods and claiming Input Tax Credit (ITC) under GST, it's crucial to follow the correct procedure to ensure compliance and maximize eligible credits. Here’s how you can avail ITC on imported goods when the Bill of Entry (BOE) details are not reflected in GSTR-2B/2A and are not searchable on the GST portal:
### Steps to Avail ITC on Imported Goods:
1. **Verify BOE Details:** - Ensure that you have a copy of the Bill of Entry (BOE) issued by Customs for the imported goods. This document is crucial as it contains information necessary for claiming ITC under GST.
2. **Check GSTR-2A/2B:** - If the BOE details are not appearing in GSTR-2A/2B, it could be due to delays in data updation or technical issues. It's important to keep checking periodically as sometimes there can be delays in the data being reflected.
3. **"Search BoE Records" on GST Portal:** - Use the "Search BoE Records" feature on the GST portal to verify if the BOE details are available for your import. If the details are not searchable or are missing, this could be due to data syncing issues between Customs and GSTN.
4. **Manual Entry of BOE Details:** - If the BOE details are not automatically reflected in GSTR-2A/2B and are not searchable on the portal, you may need to manually enter the BOE details in your GST return to avail ITC. Here’s how you can proceed: - Enter the details of the imported goods including BOE number, date, port of entry, and other relevant details in the appropriate section of your GST return (usually GSTR-2). - Ensure that the information entered matches exactly with the details in the BOE issued by Customs.
5. **Documentary Evidence:** - Maintain a copy of the BOE, along with other relevant import documents such as Importer Exporter Code (IEC), shipping bills, and invoices. These documents serve as evidence to support your claim for ITC during GST audits.
6. **Consult with a Tax Professional:** - If you encounter persistent issues or are unsure about the correct procedure for claiming ITC on imported goods, it’s advisable to consult with a tax professional or chartered accountant. They can provide guidance tailored to your specific situation and ensure compliance with GST regulations.
### Conclusion:
Claiming Input Tax Credit on imported goods under GST involves ensuring that BOE details are correctly reflected in your GST returns or entered manually if not available through automated processes. By following these steps and maintaining proper documentation, you can effectively avail ITC and comply with GST requirements.
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