REVERSE CHARGE
amit (article ) (77 Points)
16 July 2017
Does advance payment to FOREIGN supplier for import of goods, liable to IGST under RCM ?
6 Replies
amit
(article )
(77 Points)
Replied 16 July 2017
But at the time of import again IGST will be charged in Bill of Entry....implies double taxation ? Plz clarify...
Sandeep Upadhyay
(1518 Points)
Replied 16 July 2017
Tax on advance will be adjusted with final invoice
RAJA P M
("Do the Right Thing...!!!")
(128091 Points)
Replied 16 July 2017
You can adjust your other sales liability. If no more liability you can get Refund.
amit
(article )
(77 Points)
Replied 16 July 2017
Provisio to Section 5 of IGST Act, says tax on goods imported into india shall be LEVIED AT THE POINT when duties of customs are levied i.e. when the goods crossed the custom area.
So before tax is levied how come it can be paid because at the time of payment of advance goods have not crossed the custom area ?
Please correct me if i am wrong .
So before tax is levied how come it can be paid because at the time of payment of advance goods have not crossed the custom area ?
Please correct me if i am wrong .
Recent Topics
- How can I check the platform number for my train?
- Gratuity under CTC
- GST refund paid as estimated tax liability
- Salary Income and Professional services income
- Sec 54 and TDS on sale of property
- Airbnb Manager - I manage properties for owners
- Wrong head ed for late fee
- Inter Company trnafer
- Job work-Reg
- Who is liable to pay GST if bank charges excl GST
Related Threads
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
