TaxTMI 
TaxTMI 
Will Rule 37 apply to ITC claimed of IGST paid on Iort of goods appearing in Bill of entry ? This is w.r.t 180 days rule - 2nd provisio in Section 16(2)(d).
Rule 37 applicable for IGST paid on import of goods?
28 Jul 2022 
6 Replies 
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Input tax credit limitation on IGST paid at import: applicability of invoice-based reversal remains legally contested and unresolved.
The applicability of the reversal restriction on input tax credit to IGST paid on import is disputed: one side relies on the IGST Act's provision applying input tax credit rules mutatis mutandis to argue Rule 37 and the proviso apply; the other side contends the proviso targets supplier-issued invoices and payment to suppliers, whereas importers pay IGST to customs and claim credit against a bill of entry, so the proviso should not apply absent judicial clarification. (AI Summary)
The applicability of the reversal restriction on input tax credit to IGST paid on import is disputed: one side relies on the IGST Act's provision applying input tax credit rules mutatis mutandis to argue Rule 37 and the proviso apply; the other side contends the proviso targets supplier-issued invoices and payment to suppliers, whereas importers pay IGST to customs and claim credit against a bill of entry, so the proviso should not apply absent judicial clarification. (AI Summary)