Dear all
We have imported material from various countries and have paid hue amount of custom duty and IGST.
Can we claim Refund of IGST paid on Import?
8 Replies
Divakar
(Student CA Final )
(11857 Points)
Replied 23 January 2018
Yes u can take itc of igst paid only... And for custom duty no refund
Divakar
(Student CA Final )
(11857 Points)
Replied 23 January 2018
Input tax credit against ur outward taxable supply
Divakar
(Student CA Final )
(11857 Points)
Replied 23 January 2018
If u r in inverted duty structure then u can claim for refund
M Ps
(23 Points)
Replied 23 January 2018
Sir, we are not in a business where IGST will be applicable, ours is a local business so Keeping huge amount in credit don't make sence, was wondering if we can take credit of it.
Divakar
(Student CA Final )
(11857 Points)
Replied 23 January 2018
Igst can be set off with any head... Igst with igst and then igst with cgst and then igst with sgst
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