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ITC-BLOCKED CREDIT- NRTP

Hello team, about NRTP, the person who is coming from DUBAI to india along with his goods, he will be registered as NRTP and he will pay BCD+ IGST. Here how come the word " Except importing" on what purpose he is coming to india? He comes to india and sell his goods with in 30 days eventually he will leave from india. Where and what he is importing? played the video 3 times completely flummoxed.


ILLURU VISWESHWARA REDDY

ILLURU VISWESHWARA REDDY

CA Inter

26K+

11-Sep-20 15:27

18

Answers (4)

He cannot Claim ITC ok. where comes the word IGST? For him, while Coming to india with the goods he would have been paid IGST. Where comes the word "except import" this sentence making me completely getting confuse on this topic


ILLURU VISWESHWARA REDDY

ILLURU VISWESHWARA REDDY

CA Inter

26K+

11-Sep-20 15:35

He cannot Claim ITC ok. where comes the word IGST? For him, while Coming to india with the goods he would have been paid IGST. Where comes the word "except import" this sentence making me completely getting confuse on this topic

As per Section 17(5), NRTP cannot claim ITC except on goods imported by him. It means that when he brought the goods to India it means he imported. At that time he will definitely pay BCD + IGST. That IGST component can be claimed as ITC. Except that NRTP cannot claim any other ITC. Trust this clarifies !!


Shiva Teja

Shiva Teja

Faculty

12-Sep-20 09:44

Eventhough, he brings goods to india for temporary period of time, still those goods fall under importing goods. Along with BCD, though it is different country still IGST apply? Untill now i understood IGST for different states only and BCD only for different countries. Regarding this, in the earlier modules explanation also no where it was mentioned different countries also fall under IGST along with BCD. Now i am clear on my query. Thank you sir.


ILLURU VISWESHWARA REDDY

ILLURU VISWESHWARA REDDY

CA Inter

26K+

12-Sep-20 10:19