Regarding IGST credit

[Jasbir Uppal]

Dear professionals,

The IGST paid on import of goods from out of Indian Territory which is out credit should be showing in cash balance on GSTN portal but it is not shown and the taxpayer is unable to adjust the liability of RCM. In GSTR-3B there is no mechanism for adjustment IGST with liability of RCM.

Professionals brother and sister please give the valuable views.

With regards

J.S. Uppal

Tax Professional

AI Summary

IGST credit on imports in electronic credit ledger usable for output tax set-off; RCM must be paid from cash ledger.
Import IGST is credited to the electronic credit ledger and is available only for set-off against output tax; liabilities under reverse charge mechanism and other cash-payable amounts must be paid from the electronic cash ledger, which reflects actual cash deposits made by the taxpayer. Discrepancies in ledger reflection should be checked in returns and raised with the GST network for resolution.