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.]


Related Topic on GST 

TopicClick Link
GST ActsCentral GST Act and States GST Acts
GST RulesGST Rules
 GST FormsGST Forms
GST RatesGST Rates
GST NotificationsGST Act Notifications
GST CircularsGST Circulars
 GST JudgmentsGST Judgments
GST Press ReleaseGST Press Release
GST BooksBest Books on GST in India
GST CommentaryTopic wise Commentary on GST Act of India
GST You Tube ChannelTaxHeal You Tube Channel
GST Online CourseJoin GST online Course
Direct Taxes Ready Reckoner
Service Tax Ready Reckoner
Company Law Ready Reckoner
tax deduction at source
New Books Released on Tax , GST and law

Leave a Reply

Your email address will not be published. Required fields are marked *