TaxTMI 
TaxTMI 
ITC Credit claime on Import of Machine
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....TC Credit claime on Import of Machine<br> Query (Issue) Started By: - InderMohan Singh Dated:- 29-1-2025 Last Reply Date:- 25-6-2025 Goods and Services Tax - GST<br>Got 14 Replies<br>GST<br>My client is manufacturer of chemicals and purchased machine from other country registered under GST Act. My client has Bill of entry declaring value of machine and IGST thereon. My query is that can we avail I....
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....GST credit in above case as in GSTR-2A value of IGST not shown Reply By KASTURI SETHI: The Reply: What is the period involved ? Reply By Ganeshan Kalyani: The Reply: In one of my case, the proper officer had allowed the credit basis Bill of Entry copy. The IGST was not appearing in GSTR-2A. Reply By KALLESHAMURTHY MURTHY: The Reply: Sirs, I agree with the views of Sri Ganeshan Kalyan ji.&nb....
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....sp; Reply By KASTURI SETHI: The Reply: Dear Sir, The period involved is crucial. Reply By KALLESHAMURTHY MURTHY: The Reply: Respected Sir, The period also counts. But assuming the query, the claim is within the time, IGST can be availed, though not reflected in GSTR-2A based on the payment made as per Bill of Entry. In some cases, it was allowed. Reply By KASTURI SETHI:....
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.... The Reply: Sh.Kalleshamurthy Murthy Ji, Sir, I fully agree with you. What I intend to say if the period involved is 17-18, then the demand for reversal of IGST on the ground of non-reflection in Form GSTR-2A will be clearly out of the scope of mismatch of figures between GSTR-3B and Form GSTR-2A since 2 A was made operational in September, 2018.There is no doubt about case-laws, circulars and ....
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....public notices which can tilt the issue in favour of tax payer. It is worthwhile to mention here that just two days ago I have received one such case on the same issue for the period 17-18. The SCN was issued in a hurry and demand of reversal of ITC (IGST) has been confirmed along with interest and penalty in a hurry. When 2A was not in force in 2017-18, how mismatch ? Reply By KALLESHAMURTHY M....
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....URTHY: The Reply: Respected Sir, The authority concluded the order was erred. The Bill of Entry is proof of payment of IGST. The availment of the same cannot be rejected on the grounds that it was not reflected in GSTR-2A. The said payment would not reflected in GSTR-2A. So, the mismatching question does not come in the way. I have seen a case allowed in such circumstances relating to the p....
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....eriod 2017-18 during 2022 itself. Thanking you Sir. Reply By KASTURI SETHI: The Reply: You are absolutely right, Sir. Reply By KALLESHAMURTHY MURTHY: The Reply: Thank you very much, Sir. Reply By Padmanathan KV: The Reply: There was some circular also stating ITC can be availed on the basis of Bill of Entry since some of the Ports are still not linked to online portal and hence, that could ....
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....be a reason for non-reflection in GSTR-2A. Reply By KASTURI SETHI: The Reply: Refer to Board's Circular Nos.183/15/2022-GST dated 27.12.22 and 193/05/2023-GST dated 17.7.23. The Circulars allow to take ITC on the physical copy of assessed Bill of entry. The conditions mentioned therein have to be followed. Reply By KASTURI SETHI: The Reply: In this context, also go through Public No....
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....tice No.80/17 issued by Commissioner Customs Nhava Sheva. Para No.8 is extracted below : "8. IGST Availment in case of Manual Bill of Entry : Since all the validation related to IGST refund or flow of IGST credit would happen electronically between Customs EDI and GSTN, it is imperative here that the required data is captured electronically without fail for all the imports and exports whet....
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....her or not they are made through EDI locations. In case of EDI locations, Board has issued instructions vide F.No. 401/81/2011-Cus III dated 2nd June 2017 wherein it is envisaged that any manual bill of entry or shipping bill in EDI locations need to be filed following the procedure laid out in the above instructions" Reply By Shilpi Jain: The Reply: The requirement for appearance in GSTR-2A or ....
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....2B is only w.r.t. invoices and not BoE. Hence, even if BoE is not appearing in these statements, credit can be availed if all the other conditions for being eligible for credit under law are satisfied. Reply By Vishal Garge: The Reply: If we avail the ITC on the basis of Bill of entry date (which fall in earlier tax period) instead of ICEGATE reference date which could be later date of any one o....
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....f Duty Payment or out of charge or amendment (which fall next tax period of BE date), what could be the consequences on availed ITC. Further what date will be considered for effect of ITC availed in the credit ledger for a case mentioned following, 1. BOE date : 25th SEP 2024 2. ITC availed in SEP 2024 but reflected in GSTR-2B of Oct 2024 3. ICEGATE reference date : 01st OCT 2024 ....
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....which is duty payment date 4. ITC claimed date for accumulated credit reference number in credit ledger is 20th Oct 2024 for period SEP 2024.<br> Discussion Forum - Knowledge Sharing ....