IGST-paid imports allowed ITC despite payment after 180 days; no reversal under Section 16(2) and Rule 37

IGST-paid imports allowed ITC despite payment after 180 days; no reversal under Section 16(2) and Rule 37Case-LawsGSTThe AAR held that the applicant is entitled to claim input tax credit of IGST paid on import of goods even where payment to the foreign su

IGST-paid imports allowed ITC despite payment after 180 days; no reversal under Section 16(2) and Rule 37
Case-Laws
GST
The AAR held that the applicant is entitled to claim input tax credit of IGST paid on import of goods even where payment to the foreign supplier was deferred beyond 180 days from invoice but made within FEMA/RBI timelines. The Authority concluded that such ITC remains admissible under Section 16 of the CGST Act, 2017 and is not liable to reversal under the second provi

= = = = = = = =

Plain text (Extract) only
For full text:-Visit the Source

= = = = = = = =