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GST- Leviability of IGST on High Sea Sales of imported goods and point of collection
 


CHEMEXCIL
Basic Chemicals, Cosmetics & Dyes Export Promotion Council
(Set-up by Ministry of Commerce and Industry, Govt of India)

Jhansi Castle, 4th Floor, 7 Cooperage Road, Mumbai - 400 001.India.

Tel : +91 22 22021288 / * Fax : +91 22 22026684

* E-mail : info@chemexcil.gov.in Web : https://chemexcil.in


EPC/LIC/HIGH_SEAS_SALE_IGST

2nd August 2017

 

ALL MEMBERS OF THE COUNCIL

 

GST- Leviability of IGST on High Sea Sales of imported goods and point of collection

Dear Members,

As you are aware, High Sea Sale  is a common trade practice whereby the original importer sells the goods to a third person before the goods are entered for customs clearance.

However, with the onset of GST, there have been concerns about the points of taxation  of IGST on such transactions.

In this regard, CBEC  has issued Circular No. 33/2017-Cus dated 01/08/2017 whereby it is clarified 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 collected at the time of clearance

Concerned members are requested to take note of the same.  For full details,  Circular No. 33/2017-Cus dated 01/08/2017 can  be downloaded using below link-
http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-circulars/cs-circulars-2017/circ33-2017cs.pdf

Thanking you.

Yours faithfully,
S.G BHARADI
EXECUTIVE DIRECTOR
CHEMEXCIL

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