TaxTMI 
TaxTMI 
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)
Input credit time limit in case of import (Bill of entry)
14 Mar 2020 
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Time limit for input tax credit: whether import bills of entry fall within the CGST time bar affects claiming IGST credit.
The central question is whether the CGST time bar on availing input tax credit for invoices and debit notes also applies to IGST paid on imports via a bill of entry. One view reads IGST provisions and CGST rules together, and Rule 36's listing of bill of entry as a prescribed document, to apply the time limit to import credits. The contrary view relies on the express textual omission of bills of entry from the CGST time bar provision and treats bills of entry as distinct customs documents, arguing the embargo does not apply absent an express deeming provision. Practically, taking credit late may invite challenges; advance ruling or litigation are practical options. (AI Summary)
The central question is whether the CGST time bar on availing input tax credit for invoices and debit notes also applies to IGST paid on imports via a bill of entry. One view reads IGST provisions and CGST rules together, and Rule 36's listing of bill of entry as a prescribed document, to apply the time limit to import credits. The contrary view relies on the express textual omission of bills of entry from the CGST time bar provision and treats bills of entry as distinct customs documents, arguing the embargo does not apply absent an express deeming provision. Practically, taking credit late may invite challenges; advance ruling or litigation are practical options. (AI Summary)