We have imported material wherein Bill of Entry date is 31.03.23. We have paid custom duties including IGST on 10.04.23. Examination & inspection has been done on 13.04.23 by custom authority & we have received the material on 14.04.23.
In our GSTR-2B for Mar-23 the above transaction is not reflected however it may reflect in the next month i.e. April-23 with bill of entry dated 31.03.23. In this case, can we consider the above transaction in current year i.e. 2023.-24 or in the previous year i.e. 2022-23 ?
Claim Imported Goods ITC in April 2023: Align with Goods Receipt Date Under GST Rules A discussion on a forum addresses the timing for claiming Input Tax Credit (ITC) for imported goods under the Goods and Services Tax (GST). The bill of entry is dated March 31, 2023, but the goods were received in April 2023. Participants, including several experts, agree that ITC should be claimed in April 2023, aligning with the receipt of goods and the final assessment date. Although one participant notes a differing departmental view, the consensus is that ITC eligibility begins upon receipt of the goods, supporting its inclusion in the April 2023 GSTR-3B. (AI Summary)
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