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TMI BlogIMPORT MATERIALS IN JULY WITH EARLIER VERSION AS MATERIALS RELEASED ON JULY WITHOUT IGST 18%X X X X Extracts X X X X X X X X Extracts X X X X ..... SIRJI PLEASE HELP REGARDING IMPORT MATERIALS IN JULY WITHOUT IGST 18% AND BILL OF ENTRY JUNE DATED (22.06.17) WITH EARLIER VERSION(7.5%+12.5%+SP DUTY 4%) AS JUNE MATERIALS RELEASED FROM PORT . NOW WHAT WILL IMPACT IN GST AS PER PRESENT SITUATION AS CHA TELLING TO TAKE EXPERT VIEW. PL HELP IF YOU CAN. REGARDS, ROY - Reply By Vamsi Krishna - The Reply = You have book the Exp in June month itself ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... since your BOE filed in Jun (22nd June). As per Sec.140(5) you can book the bills pertains to Excise/Service tax by 30th July'17 (30 days given in the act, can be extended by commissioner). You can however book the CHA exp in July'17, you can even ask CHA to raise bill in Jun'17 (may not be possible now) You can book the exp in June and claim related cenvat as inputs in sto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ck.. - Reply By nandankumar roy - The Reply = RETURN OF ER1 AND ST3 ALREADY SUBMITTED AND REVISE DATE SUBMISSION UPTO JULY ALREADY SPARED AND I AM TAKING CVD + 4% ADD DUTY IN JULY 3B . WHETHER IT WILL ACCEPTABLE OR NOT. IF NOT WHAT WILL EFFECT IN GST RETURN PL ADVICE. REGARDS, THANKS.ROY - Reply By Nandan Khambete - The Reply = As it appears from the Question, import has taken place in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... June itself as BOE is in June and goods reached Port in June. Releasing goods in July from Port will not have any impact in GST and it will not be covered under supply of goods from 1.7.2017. Also, RCM won't be applicable. Hence , no impact in GST as per my view and you can very well show it as Import in July.However, for Credit of Additional Duty you can mention it in Transition form. - IM ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... PORT MATERIALS IN JULY WITH EARLIER VERSION AS MATERIALS RELEASED ON JULY WITHOUT IGST 18% - Query Started By: - nandankumar roy Dated:- 4-8-2017 Goods and Services Tax - GST - Got 3 Replies - GST - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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