In GST routine, input assessment credit of the incorporated expense (IGST) and GST Compensation Cess will be accessible to the importer and later to the beneficiaries in the inventory network, anyway the credit of essential customs duty (BCD) would not be accessible. So as to benefit ITC of IGST and GST Compensation Cess, an importer needs to obligatorily announce GST Registration number (GSTIN) in the Bill of Entry. Temporary IDs issued by GSTN can be proclaimed during the progress time frame.
Be that as it may, importers are encouraged to finish their enlistment procedure for GSTIN as ITC of IGST would be accessible dependent on GSTIN pronounced in the Bill of Entry. Information duty credit will be benefited by an enlisted individual just if all the material specifics as endorsed in the Invoice Rules are contained in the said archive, and the pertinent data, as contained in the said report, is outfitted in FORM GSTR-2 by such individual.
Customs EDI framework would be interconnected with GSTN for approval of ITC. Further, Bill of Entry information in non-EDI areas would be digitized and utilized for approval of information expense credit given by GSTN.
As indicated by GST Law, The reason for this direction note is to achieve lucidity the impact of GST, which would come into power with impact from 01.07.2017, for importers and exporters.