How is GST Charged in case of Import of goods ?

By | January 13, 2018
(Last Updated On: January 13, 2018)

How is GST Charged in case of Import of goods ?

Value of the goods for the purpose of levying IGST  in case of import of goods shall be, assessable value plus Customs Duty levied under the Act, and any other duty chargeable on the said goods under any law for the time being in force as an addition to, and in the same manner as, a duty of customs. For e.g.,

Import Duty under GST

  1. Assessable value Rs. 100
  2. Basic Custom duty@7.5% Rs. 7.5
  3. IGST (A+B)say @18% Rs. 19.4
  4. Total Customs Duty (B+C) Rs. 26.9

[ GST compensation cess, may also be leviable on on certain luxury and demerit goods under the GST (Compensation to States) Cess Act, 2017.]

 

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