TaxTMI 
TaxTMI 
ITC on IGST paid on imported goods.
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....TC on IGST paid on imported goods.<br> Query (Issue) Started By: - Vishal Garge Dated:- 19-6-2025 Last Reply Date:- 24-6-2025 Goods and Services Tax - GST<br>Got 9 Replies<br>GST<br>Dear All, whether ITC of IGST paid on imported goods is on the basis of bill of entry date or ICEGATE reference date which is mentioned in the GSTR-2B. It is mostly observed that ICEGATE reference date in GSTR-2B is ....
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....of subsequent month of Bill of entry date. Whether CBIC or any advance ruling issued clarification for the same. Reply By KASTURI SETHI: The Reply: A passed Bill of Entry is an Assessment Order. The ITC of IGST should be taken on the date of passing the Bill of Entry by the Customs Officer. Reply By Sadanand Bulbule: The Reply: Refer CBIC Advisory dated 18/10/2021 on the subject. Reply....
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.... By Vishal Garge: The Reply: Dear Sir, Thanks for your reply . whether we can consider assesment date of BOE ready for duty payment? Reply By Vishal Garge: The Reply: Dear Sir, Thank you for reply. Advisory is advising to fetch the details if BOE is not available in GSTR-2B. but it is observed that respective "BOE" are coming in next months even it is not fetched. Reply By Shilpi....
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.... Jain: The Reply: BoE is a valid document for availng credit. Consider the BoE date. What is the relevance of the ICEGATE reference date in 2B? Reply By Ganeshan Kalyani: The Reply: Consider BOE date for taking credit. Reply By Vishal Garge: The Reply: Dear Madam, As per Notification No. 12/2024-Central Tax, it is said that "The ICEGATE reference date is the date from which the recipie....
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....nt is eligible to take input tax credit." Reply By YAGAY andSUN: The Reply: The Input Tax Credit (ITC) on IGST paid on imported goods is determined based on the Reference Date rather than the Bill of Entry (BoE) date. The Reference Date is defined as the later of the following: * Out of Charge Date * Duty Payment Date * Amendment Date This Reference Date is used to ascertain....
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.... the period for which the ITC is eligible to be claimed in Form GSTR-2B. Consequently, the Reference Date may fall in a subsequent month compared to the BoE date, leading to the appearance of the import transaction in the GSTR-2B of the following month. This is a standard practice and aligns with the GSTN"s guidelines for fetching BoE details from the ICEGATE portal. Therefore, the ITC on I....
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....GST paid on imports is available in the GSTR-2B based on the Reference Date, which may differ from the BoE date, and this approach is in accordance with the GSTN"s procedures. Reply By Vishal Garge: The Reply: Dear Sir, Noted it. however 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 on....
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....e of Duty Payment or out of charge or amendment (which fall next tax period of BE date), what could be the consiquences on availed ITC. Further what date will be considered for effect of ITC availed in the credit ladger 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 20....
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....24 which is duty payment date 4. ITC claimed date for accumulated credit reference number in credit ledger is 20th Oct 2024 for SEP 2024.<br> Discussion Forum - Knowledge Sharing ....