Import from Japan - ITC on capital goods
This query is : Resolved
24 June 2022
Respected Experts,
We are importing machinery from Japan. We are paying GST around 37 lakhs on the said import. My query is
1) Wether the availed input tax can only be adjusted in Central tax? if so the
2) How long the input tax can be carried forward?
Please clarify.
We are importing machinery from Japan. We are paying GST around 37 lakhs on the said import. My query is
1) Wether the availed input tax can only be adjusted in Central tax? if so the
2) How long the input tax can be carried forward?
Please clarify.
24 June 2022
IGST on import can be adjusted against CGST & SGST liabilities and there is no time limit to utilise the credit available in E-Credit Ledger.
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