Input credit under GST act.

[katkoori baburao]

Sir,

Can Import Duty be taken as input credit under GST act.

[KASTURI SETHI]

Yes. CVD and SAD can be taken.

[Ganeshan Kalyani]

Yes credit of CVD and SAD (now IGST ) can be set off against liability arising out of taxable output supply .

AI Summary

Input tax credit for import duties allowed; CVD, SAD and IGST credits may offset output tax liability.
Credit for Countervailing Duty (CVD) and Special Additional Duty (SAD) on imports qualifies as input tax credit; these duties, now subsumed as IGST credit under GST, may be applied to offset liability on taxable outward supplies.