Breif Issue :
1. Whether under reverse charge mechanism, IGST should be paid by the importer on ocen freight in case of CIF basis contract, when service provider and service recipient both are outside the territory of India?
2. If Yes then what will be the supporting documents for importer under RCM to take the credit of IGST paid on ocen freight under CIF contract?
3. Whether credit will be available in GST of Office furniture & Fixtures, AC, Plant and machinery on newly constructed building on its own account for the furtharance of business and accounting entry is capitalised in the books?
2. If Yes then what will be the supporting documents for importer under RCM to take the credit of IGST paid on ocen freight under CIF contract?
3. Whether credit will be available in GST of Office furniture & Fixtures, AC, Plant and machinery on newly constructed building on its own account for the furtharance of business and accounting entry is capitalised in the books?
1. Notification 10/2017 IGST(Rate), Importer is required to pay IGST on ocen freight even if importer has already paid IGST on CIF value imported goods.
2. On the basis of invoice/ challan issued
3. Gst is avialbale except land, building or any other civil structure
2. On the basis of invoice/ challan issued
3. Gst is avialbale except land, building or any other civil structure
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