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ITC on IGST for Imports Allowed Despite Deferred Payment Beyond 180 Days
Case Law Details
- Case Name
- In re Priya Holdings Private Limited (GST AAR Gujrat)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- AAR Gujarat, Advance Rulings
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In re Priya Holdings Private Limited (GST AAR Gujrat)
Background and Issue
M/s. Priya Holdings Private Limited, an importer of various metal scraps, sought an advance ruling from the Gujarat Authority for Advance Ruling (AAR) on the admissibility of Input Tax Credit (ITC) for Integrated Goods and Services Tax (IGST) paid on imported goods. The central issue was whether the ITC would be subject to reversal under Section 16(2) of the Central Goods and Services Tax (CGST) Act, 2017, and Rule 37 of the CGST Rules, 2017, if the payment to the foreign supplier was deferred beyond the 180-day period...
