Input Tax Credit on Import Return
Query (Issue) Started By: – Kaustubh Karandikar Dated:- 5-12-2018 Last Reply Date:- 17-1-2019 Goods and Services Tax – GST
Got 3 Replies
GST
XYZ imported goods and input tax credit taken on it for IGST charged in the Bill of Entry. These goods were rejected being wrong supply and re-exported to the supplier.
1) Can they claim input tax credit of IGST paid?
2) While re-exporting to the supplier, can they export without payment of GST under LUT even if they had taken input tax credit of the IGST?
Reply By YAGAY andSUN:
The Reply:
Except certain circumstances, there is no tax on export. in our view, XYZ can claim input tax credit of IGST paid and they can export under LUT without payment of IG
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