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GST · Customs

Imports, exports, and GST: customs basics every finance team should know

Parwal & Associates11 February 20256 min read

Bill of entry, shipping bills, and IGST on imports interact with your GST returns. A clear map of documents prevents stranded credit and delays.

Cross-border trade adds customs law to your GST discipline. The same shipment may trigger customs duty, compensation cess in specific cases, and IGST on imports under the reverse charge mechanism in prescribed scenarios.

Align your purchase register with bills of entry and shipping bills. Discrepancies delay input tax credit and complicate income tax inventory valuation.

Export promotion schemes and LUT filings have strict documentation. Errors can block refunds or invite recovery notices.

If you are new to imports, invest in training your store and finance teams on incoterms and who bears freight and insurance—those choices affect valuation and insurance claims.

Our indirect tax practice supports clients on customs and GST jointly so one narrative runs through your ledgers, returns, and shipping documents.

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Parwal & Associates supports clients on tax, audit, and corporate matters from Jaipur, across Rajasthan and India.

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