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.
Valuation of supply- section 15 of CGST Act- In the instant case, the applicant is registered PWD Civil Government contractor.
The applicant has sought advance ruling in respect of the following questions:
a. Whether the subsidy from Government of Karnataka is to be reduced from the value of import of plant and machinery from China, for the purpose of levying GST?
b. Whether valuation of supply of goods under the GST Act or any other relevant Act in respect of import of goods excludes government subsidy?
c. Whether GST will be levied on imports of plant & machinery after reducing Government subsidy from the CIF value of the imports?
The applicant 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.
Held that- The application filed by the applicant for advance ruling is disposed off as rejected.
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.
Valuation of supply- section 15 of CGST Act- In the instant case, the applicant is registered PWD Civil Government contractor.
The applicant has sought advance ruling in respect of the following questions:
a. Whether the subsidy from Government of Karnataka is to be reduced from the value of import of plant and machinery from China, for the purpose of levying GST?
b. Whether valuation of supply of goods under the GST Act or any other relevant Act in respect of import of goods excludes government subsidy?
c. Whether GST will be levied on imports of plant & machinery after reducing Government subsidy from the CIF value of the imports?
The applicant 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.
Held that- The application filed by the applicant for advance ruling is disposed off as rejected.