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TMI Blog2021 (11) TMI 392X X X X Extracts X X X X X X X X Extracts X X X X ..... licant is importing silk reeling machineries from China and is supposed to pay IGST on import of goods. The applicant wishes to know whether the subsidy given is to be reduced from the value of import of plant and machinery to pay IGST. Since the value for levy of IGST on imports is governed by Customs Act, 1962 and Customs Tariff Act, 1975 answering the questions of the applicant does not come under the purview of this authority. The application filed by the applicant for advance ruling is disposed off as rejected. - KAR ADRG 59/2021 - - - Dated:- 29-10-2021 - DR. M.P. RAVI PRASAD AND SRI. T. KIRAN REDDY MEMBER Represented by : Sri M. Perumal, Chartered Accountant andDuly Authorised Representative ORDER UNDER SECTION 98(4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nce is admissible under Section 97(2)(e) of the CGST Act 2017. 5. BRIEF FACTS OF THE CASE: The applicant furnishes some facts relevant to the issue: 5.1 The applicant states that he is a construction firm and is a registered PWD Civil Government Contractor. He is proposing to start a new manufacturing factory having automatic reeling machine unit in Kadakola Industrial Area, Mysore and in that they propose to manufacture and export quality raw silk. He is proposing to import major portion of plant and machineries from China. 5.2 The applicant states that Department of Sericulture, Government of Karnataka, has sanctioned 90% subsidy and an escrow account has been opened with a Bank jointly with the applicant and the Department. Pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... advance ruling is sought by the applicant, relevant facts and the applicant s interpretation of law. 10. The applicant states that they are into setting up of silk reeling industry in Mysore for which they are importing machineries from China. The applicant has stated that Department of Sericulture, Government of Karnataka, has sanctioned 90% subsidy and an escrow account has been opened with a Bank jointly with the applicant and the Department and the payments have been made to the Chinese vendor out of this escrow account by opening FLC. 11. The applicant wishes to know whether the subsidy given by the Government of Karnataka is to be reduced from the value of import of plant and machinery for the purpose of levying GST. 12. Sub ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions of the Council and collected in such manner as may be prescribed and shall be paid by the taxable person: Provided that the integrated tax on goods imported into India shall be levied and collected in accordance with the provisions of section 3 of the Customs Tariff Act, 1975 on the value as determined under the said Act at the point when duties of customs are levied on the said goods under section 12 of the Customs Act, 1962. 15. For the import of goods, the importer has to pay custom duty and IGST as per Customs Act, 1962 and Customs Tariff Act, 1975 on the value as determined under the Customs Tariff Act, 1975 at the point when the duties of customs are levied on the said goods. Thus it is evident that the value for levy of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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