https://www.taxtmi.com/forum/issue?id=119696 Lease payments for imported machinery constitute the assessable value for customs; customs duty, cess and IGST are payable, with IGST potentially claimable as input tax credit. The import declaration must state the lease nature, include correct HS classification and IEC, and customs may require a bond or bank guarantee to secure re export. The lease agreement and remittances must comply with FEMA/RBI rules and be routed through authorised dealers; check preferential trade treatment for any concession. Where IGST is paid on lease consideration, exemption or ITC may render treatment revenue neutral. en-us Mon, 10 Mar 2025 16:33:26 +0530 Wed, 12 Mar 2025 17:09:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=119696 Lease payments for imported machinery constitute the assessable value for customs; customs duty, cess and IGST are payable, with IGST potentially claimable as input tax credit. The import declaration must state the lease nature, include correct HS classification and IEC, and customs may require a bond or bank guarantee to secure re export. The lease agreement and remittances must comply with FEMA/RBI rules and be routed through authorised dealers; check preferential trade treatment for any concession. Where IGST is paid on lease consideration, exemption or ITC may render treatment revenue neutral. Discussion-Forum Customs Mon, 10 Mar 2025 16:33:26 +0530 https://www.taxtmi.com/forum/issue?id=119696