IGST on High Sea Sales taxed only during importation, GST Council
The Dollar Business Bureau The CBEC has issued a clarification regarding double taxation of IGST on High Sea Sales of imported goods. It had come to the notice of the Customs Board for a clarification whether High Sea Sales of imported goods would be charged IGST twice - 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. The Board issued a clarification on the same vide Customs circular no- 33/2017 dated August 1, 2017. ‘High Sea Sales’ is a common trade practice whereby the original importer sells the goods to a third person before the goods are entered for customs clearance. After the High sea sale ...
