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    1) Import of services on or after July 1, 2017 are liable to tax under GST, regardless of whether transactions for import were initiated before then. 2) Exceptions are if tax was fully paid under prior law, or if tax was partially paid previously with the balance payable under GST. 3) A transaction is deemed initiated pre-July 1 if an invoice or partial payment was made before then. Import of services for consideration, or from a related party outside India without consideration, will be treated as a supply under GST.

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    1) Import of services on or after July 1, 2017 are liable to tax under GST, regardless of whether transactions for import were initiated before then. 2) Exceptions are if tax was fully paid under prior law, or if tax was partially paid previously with the balance payable under GST. 3) A transaction is deemed initiated pre-July 1 if an invoice or partial payment was made before then. Import of services for consideration, or from a related party outside India without consideration, will be treated as a supply under GST.

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    13 views1 page

    GST Educational Series 01082017

    Uploaded by

    Sundarachselvan Subramanian
    1) Import of services on or after July 1, 2017 are liable to tax under GST, regardless of whether transactions for import were initiated before then. 2) Exceptions are if tax was fully paid under prior law, or if tax was partially paid previously with the balance payable under GST. 3) A transaction is deemed initiated pre-July 1 if an invoice or partial payment was made before then. Import of services for consideration, or from a related party outside India without consideration, will be treated as a supply under GST.

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    Goods & Services Tax Issue 45

    Educational Series

    PD & PP : GST : 45/2017 August 01, 2017

    Import of Services

    Section 21 of the IGST Act, 2017 states that all services Imported on or after 1st July (appointed day) are liable to
    tax under GST, regardless of whether the transactions for such import of services had been initiated before the
    appointed day.
    Exception to section 21 of the IGST Act, 2017 are as follows:

    No tax payable • When tax on such import of services had been paid in full
    under GST under the previous law

    Balance
    amount of tax • If the tax on such import of services had been paid in part
    payable under under the existing law
    GST

    For the purposes of this section, a transaction shall be deemed to have been initiated before the appointed day if
    either the invoice relating to such supply or payment, either in full or in part, has been received or made before the
    appointed day.
    According to section 7(1)(b) of CGST Act, 2017, import of services for a consideration whether or not in the course
    or furtherance of business, will be considered as supply.
    Schedule I of CGST Act, 2017 states that Import of services by a taxable person from a related person or from any
    of his other establishments outside India, in the course or furtherance of business made even without
    consideration will be treated as supply under GST.

    Disclaimer: This document developed for academic purposes only, is based on the information available in public domain. The Institute of Company Secretaries of India shall not be responsible for any loss or damage
    caused due to any action taken on the basis of information contained in this document. Any person wishing to act on the basis of the information contained in this document should do so only after cross checking with
    the original source.

    Previous issues of Educational Series are available at https://www.icsi.edu/GSTEducationalSeries.aspx

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