Import of services made on or after the appointed day, Section 21 of IGST Act, 2017

 

Section 21 of IGST Act, 2017, Import of services made on or after the appointed day

 

 

The below post explains about Import of services made on or after the appointed day under section 21 of IGST Act,2017.

 

Section 21 of IGST Act, 2017 explains Import of services made on or after the appointed day as below: (The amendments if any will also be updated here soon).

 

The extract of Section 21 of IGST Act,2017 quoted below:

 

21 Import of services made on or after the appointed day

 

21. Import of services made on or after the appointed day shall be liable to tax under

the provisions of this Act regardless of whether the transactions for such import of services

had been initiated before the appointed day:

Import of services made on or after the appointed day, Section 21 of IGST Act, 2017Provided that if the tax on such import of services had been paid in full under the

existing law, no tax shall be payable on such import under this Act:

Provided further that if the tax on such import of services had been paid in part under

the existing law, the balance amount of tax shall be payable on such import under this Act.

Explanation.––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.

 

The above information clarifies about Import of services made on or after the appointed day under section 21 of IGST Act,2017.  

 

 

If you have any comments about Section 21 of IGST Act, 2017 explaining Import of services made on or after the appointed day, share below your thoughts:

 

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