IGST paid on import to lapse, if not availed before March

a)     Table 8G requires to declare the aggregate value of IGST paid at the time of imports (including imports from SEZs) during the financial year.

b)     Table 8H of the Annual Return provides that input tax credit as declared in Table 6E shall be auto-populated. Table 6E requires the declaration of details of input tax credit availed on the import of goods including the supply of goods received from SEZs.

c)     Table 8J would calculate ITC available but not availed on the import of goods by deducting amount reported in Table 8H from the amount reported in Table 8G.

d)    Table 8K calculates Total ITC to be lapsed in the current financial year by adding value reported in Table 8J.

There is no Table for IGST Paid on Inputs like Table 8C which allows ITC on inward supplies (other than imports and inward supplies liable to reverse charge but includes services received from SEZs) received during 2017-18 but availed during April to September 2018.

Thus, what appears from the Table 8 of the Annual Return that the drafters of the form have either forgotten to give the Table similar to Table 8C for imports or they thought that the facility to correct the error of earlier returns and avail ITC in the months April to September 2018 is not available for import of goods.

Thus, under the given instance, it would then result in Figure in Table 8G being reported higher as per Books of Accounts and Figure in Table 8H being reported lower and the resultant amount is declared under the return as ITC Lapsed in Table 8K even though credit has been availed in the month of April 2018.