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TMI BlogApplicability of IGST / GST on goods transferred / sold while being deposited in a warehouseX X X X Extracts X X X X X X X X Extracts X X X X ..... bility 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 rece ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... port charges / port 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 r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ll be taxable in terms of section 9 of the CGST Act read with section 20 of the Integrated Goods and Services Tax Act, 2017 (hereinafter referred to as, "IGST Act"). It may be noted that as per sub-section (2) of section 7 of the IGST Act, any supply of imported goods which takes place before they cross the customs frontiers of India, shall be treated as an inter-State supply. Thus, such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d warehouse and are transferred by the importer to another person, the transaction will be subject to payment of IGST at the value determined as per section 20 of the IGST Act read with section 15 of the CGST Act, 2017 and the rules made thereunder and the tax liability shall be reckoned as per section 9 of the CGST Act, 2017. 6.2 However, it may be noted that so long as such goods remain deposi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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