Input Tax Credit for Importers

[Guest]

We are importing goods from foreign countries and selling them directly to consumers via Ecommerce platforms.Please let us know if we are elligible to take input credit of Customs Duty or IGST and adjust the same for output tax as IGST CGST and SGST. Also we are transfering the goods from our warehouse to their warehouse which is our additional place of business but different GSTIN.For this stock transfer is there any Tax involved within same state and which document is needed for the same?

AI Summary

Importer Can Claim IGST Credit on Imports, Not Customs Duty; Must File GSTR-1, GSTR-2, GSTR-3 for E-commerce Sales An importer inquires about the eligibility for input tax credit on customs duty and IGST for goods imported and sold via e-commerce platforms. It is clarified that only IGST credit can be claimed, not customs duty. For stock transfers between warehouses with different GSTINs, CGST and SGST are applicable. Regarding e-commerce transactions, the importer cannot use the marketplace's invoice serial numbers for GST returns and must file GSTR-1, GSTR-2, and GSTR-3, even if sales turnover is below 2.5 lakhs. It is confirmed that a credit note is needed for sales returns, and a waybill is required for intra-state stock transfers.