Input credit time limit in case of import (Bill of entry)

[sunilkumar bhageria]

Wether same time limit for taking input credit is applicable in case of Imports vide bills of entry i.e. filing of return of Sept. or annual return whichever is earlier or there is no time limit to claim input credit of IGST paid on imports (Bill of entry)

AI Summary

Debate on Time Limit for Input Tax Credit on IGST Imports Under Section 16(4) of CGST Act A forum discussion centered on whether the time limit for availing input tax credit (ITC) under Section 16(4) of the Central Goods and Services Tax (CGST) Act applies to Integrated Goods and Services Tax (IGST) paid on imports via a Bill of Entry. Participants debated if the Bill of Entry should be considered equivalent to an invoice or debit note, as these are explicitly mentioned in Section 16(4). Some argued that the CGST provisions, including time limits, apply to IGST due to Section 20 of the IGST Act, while others contended that since the Bill of Entry is not explicitly mentioned, the time limit should not apply. The discussion highlighted differing interpretations and suggested seeking clarity through advance ruling or legal advice.