Igst on imports and accumulation of itc, Goods and Services Tax - GST

[KESHAV GROVER]

Pls guide me, one of my client is importing goods and he has to deposit igst on the value decided by the customs which is very high even more than sale price, as a result itc is accumulating. Is there any way to get it refund or stop this accumulation.all working capital is converted into itc how to get rid of this.

Posts / Replies

[Shilpi Jain]

What is the reason for such a high valuation under customs, if you can mention, What are the goods in question and what does your client do with them, only sell in the domestic market?

[YAGAY andSUN]

As correctly indicated by our expert that there should be some basis of such huge levy under the provisions of Customs Valuation Rules. Please provide the details as mentioned in the above reply along with HSN and country of Origin. Whether additional 15% duty has been levied on you products.