IGST CREDIT UNDER ZERO % EPCG SCHEME - 12, Customs - Exim - SEZ

[Sanjay Patel]

Dear Sir,

We have imported machinery under Zero % Epcg scheme No. 12. - Exim notification no. 16 / 2015

We have not paid any duty , i.e Basic + social welfare + igst.

The B/E shows the Basic duty + IGST as CVD. But under GSTIN Details IGST shown as ZERO.

Our CHA inform us that we can avail the IGST. We want to confirm that we can take a credit of IGST or not.

Waiting for your reply.

Regards,

Sanjay Patel

Posts / Replies

[KASTURI SETHI]

IGST is exempted up to 31.3.2020 vide DGFT Notification No.57/2019 dated 20.3.19. How ITC can be taken ? Notification is appended below:-

Amendments to Foreign Trade Policy 2015-2020 - Extension of Integrated Goods and Service Tax (IGST) and Compensation Cess exemption under Advance Authorisation, EPCG and EOU scheme upto 31.03.2020. - 57/2015-20 - Foreign Trade Policy

[CSSANJAY MALHOTRA]

Dear Mr Patel,

You can’t avail IGST credit as you have not paid the same during Import clearance. Had you paid off the same in Cash and are supplying taxable goods/services, you would have been eligible for ITC.