TaxTMI 
TaxTMI 
Import of Goods
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....mport of Goods<br> Query (Issue) Started By: - Arif Kathiria Dated:- 4-1-2021 Last Reply Date:- 10-1-2021 Goods and Services Tax - GST<br>Got 4 Replies<br>GST<br>Sir One of My Client is Importer and Imports Commodities like Soybean, Watermelon's Seed (Taxable @5%) And Also Import Maize Seeds, Moth Beans, Etc (Exempted / Nil Rated) My Question • At Time of Import of Soybean And Watermelons Se....
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....ed Custom Authorities assessed Goods Value Decided by Government of India And Asked IGST On the Amount of Bill of Entry, But the Import price of same goods is lower compare to goods Price assessed by custom authorities, so at the Time of Sales My Client had Collected GST at LOWER rate as Compare to Purchase Paid on BE (Can I Get Refund on difference amount which is stuck in Credit Ledger due to ab....
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....ove effect) • Can I Avail GST Credit of Import Charges (charged By Custom Clearing Agent) For Goods Which are Exempted / Nil Rated? Reply By Cam Dinh: The Reply: Time of Import of Soybean And Watermelons Seed Custom Authorities assessed Goods Value Decided by Government of India And Asked IGST On the Amount of Bill of Entry Reply By Alkesh Jani: The Reply: Shri In this case, I am of the....
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.... view that you cannot get refund. Further, the refund can be claim for inverted duty structure that means if the rate of tax of inputs is higher than output. in your case, you have not mentioned at which rate of tax you sell if the same rate of 5% not refund can be claimed. Refund is with regards to rate of tax and not value. you can avail input tax credit in respect of CHA charges which is att....
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....ribute to taxable supplies only. Reply By KASTURI SETHI: The Reply: I support the views of Sh.Alkesh Jani ji. GST ITC cannot be availed if the outward supply of goods or services or both is exempted or nil. Reply By Ganeshan Kalyani: The Reply: I agree with the views of both the expert.<br> Discussion Forum - Knowledge Sharing ....