Question2:

We request you give us a suitable solution for availing ITC of imported goods in GST TRANS -1. Because the said imported goods received by us in July 17 but bill of entry generated in June 2017. As per our understanding those goods dispatched in June 17 but received in July 17 would be entered in 7B (Section 140(5) in GST Trans -1. In 7 B First entry cell required Registration number of supplier/ ISD. So kindly tell us how can we avail ITC on imported goods in the said situation as stated above.

Answer :

It appears that your Bill of Entry is showing CVD paid instead of IGST. Section 140(5) of CGST Act, 2017 provides for migration of duties/taxes of old regime into ITC under new regime where documents were initiated in June, 2017 and consignments have been received on or after 01.07.2017. The credit of CVD paid in respect of such consignment can be migrated to new regime by furnishing details in TRAN-1 if not yet furnished. The required details are to be given under Para 7(a) and not 7(b) as understood by you.  (Reply dt. 26/09/2017)