Customs – PUBLIC NOTICE No. 38/2017 – Dated:- 30-11-2017 – 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/09/41/2017 City cus Tech Date: 30.11.2017 PUBLIC NOTICE No. 38/2017 Subject: Applicability of IGST / GST on goods transferred / sold while being deposited in a warehouse-Reg. Attention of all Customs Brokers, Exporters, Importers, Members of the Trade and other stake holders is invited to Board's Circular No. 46/2017 -Customs dated 24.11.2017 regarding applicability of IGST / GST on goods transferred / sold while being deposited in a warehouse. 2. References have been received from the trade regarding levy of IGST/GST on sales of goods de
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demurrage charges or costs for customs clearing or transporting the goods from the port to the customs bonded warehouse or costs of storage at the customs bonded warehouse, cannot be added to the value of the goods, for the purpose of levy of duties of customs at the stage of ex-bonding. Further, clause (b) of sub-section (1) of Section 15 of the Customs Act provides that the rate of duty or tariff valuation for an ex-bond Bill of Entry shall be the date on which it is filed. There is no provision to vary the assessable value of the goods at the ex-bond stage unless they are such goods on which tariff valuation applies. Therefore, duties of customs (BCD + IGST) shall be paid on the imported goods at the stage of ex-bonding on the value det
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ustoms frontiers of India, shall be treated as an inter-State supply. Thus, such a transaction of sale/ transfer will be subject to IGST under the IGST Act. The value of such supply shall be determined in terms of section 15 of the CGST Act read with section 20 of the IGST Act and the rules made thereunder, without prejudice to the fact that customs duty (which includes BCD and applicable IGST payable under the Customs Tariff Act) will be levied and collected at the ex-bond stage. 6. Thus, in respect of goods stored in a customs bonded warehouse, there is a possibility that certain cases may involve an additional taxable event, if a transfer of ownership of warehoused goods takes place between the importer and another person, before clearan
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