IMPORT MATERIALS IN JULY WITH EARLIER VERSION AS MATERIALS RELEASED ON JULY WITHOUT IGST 18%

[nandankumar roy]

SIRJI PLEASE HELP REGARDING IMPORT MATERIALS IN JULY WITHOUT IGST 18% AND BILL OF ENTRY JUNE DATED (22.06.17) WITH EARLIER VERSION(7.5%+12.5%+SP DUTY 4%) AS JUNE MATERIALS RELEASED FROM PORT . NOW WHAT WILL IMPACT IN GST AS PER PRESENT SITUATION AS CHA TELLING TO TAKE EXPERT VIEW. PL HELP IF YOU CAN. REGARDS, ROY

[Vamsi Krishna]

You have book the Exp in June month itself since your BOE filed in Jun (22nd June).

As per Sec.140(5) you can book the bills pertains to Excise/Service tax by 30th July'17 (30 days given in the act, can be extended by commissioner).

You can however book the CHA exp in July'17, you can even ask CHA to raise bill in Jun'17 (may not be possible now)

You can book the exp in June and claim related cenvat as inputs in stock..

[nandankumar roy]

RETURN OF ER1 AND ST3 ALREADY SUBMITTED AND REVISE DATE SUBMISSION UPTO JULY ALREADY SPARED AND I AM TAKING CVD + 4% ADD DUTY IN JULY 3B . WHETHER IT WILL ACCEPTABLE OR NOT. IF NOT WHAT WILL EFFECT IN GST RETURN PL ADVICE. REGARDS, THANKS.ROY

[Nandan Khambete]

As it appears from the Question, import has taken place in June itself as BOE is in June and goods reached Port in June.

Releasing goods in July from Port will not have any impact in GST and it will not be covered under supply of goods from 1.7.2017. Also, RCM won't be applicable.

Hence , no impact in GST as per my view and you can very well show it as Import in July.However, for Credit of Additional Duty you can mention it in Transition form.

AI Summary

Bill of Entry date governs GST treatment; delayed port release doesn't trigger GST or reverse charge, transition credit available.
The GST treatment of imports follows the Bill of Entry date, allowing related import costs and taxes to be booked in the period of the Bill of Entry and enabling transitional credit for additional import duties via transition forms; delayed physical release from port does not by itself create a supply under GST or invoke the reverse charge mechanism.