How import items will be treated under GST? Whether that import duty will come under GST and input credit be available?
There is countervailing duty at present which is equivalent to excise. The countervailing duty will exist and will be equivalent to GST. This portion of custom duty will be eligible for credits.
IGST will be applicable on imports. credit of IGST can be availed against IGST, CGST and SGST in that order.
Pure import duty will continue to be there post GST regime as well.
For importers what will be duty structure?
IGST will be levied apart from basic duty depending upon product HS code. the credit of IGST will be available to registered person against taxable supply. however if goods are exported then IGST will be refunded.
Only basic duty and IGST. no duty apart from this.
Custom.duty and IGST.
On Imports customs duty and IGST will be levied and ITC of IGST will be available for taxable supplies.
For importer IGST will be levied along with basic custom duty.