Customs – PUBLIC NOTICE No. 26/2017 – Dated:- 3-8-2017 – OFFICE OF THE COMMISSIONER OF CUSTOMS, CITY CUSTOMS COMMISSIONERATE, P.B No. 5400, C.R.BUILDING, QUEEN'S ROAD, BENGALURU – 560 001 C.N0. VIII/09/27/2017 City cus Tech Date: 03.08.2017 PUBLIC NOTICE No. 26/2017 Sub: Customs – Leviability of Integrated Goods and Services Tax (IGST) on High Sea Sales of imported goods and point of collection thereof-reg. Attention of all Customs Brokers, Exporters, Importers, Members of the Trade and other stake holders is invited to Board's Circular No. 33/2017-Customs dated 01.08.2017 on the above subject matter. 2. The subject matter has been examined in the Board. 'High Sea Sales' is a common trade practice whereby the original impor
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able to IGST twice i.e. at the time of Customs clearance under sub-section (7) of section 3 of Customs Tariff Act, 1975 and also separately under Section 5 of The Integrated Goods and Services Tax Act, 2017. 4. GST council has deliberated the levy of Integrated Goods and Services Tax on high sea sales in the case of imported goods. The council has decided that IGST on high sea sale (s) transactions of imported goods, whether one or multiple, shall be levied and collected only at the time of importation i.e. when the import declarations are filed before the Customs authorities for the customs clearance purposes for the first time. Further, value addition accruing in each such high sea sale shall form part of the value on which IGST is collec
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