WebAug 11, 2024 · 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 … WebApr 18, 2024 · Applicability of GST on high sea sale . APRIL 18, 2024 . By Shalini Ranjan. HIGH sea sales is a sale carried out by a Consignee (bearing documents of carriage) to another Buyer in cases where the goods sold are situated in the High Sea at the time of sale; or where the goods are between the port of origin and the destination port.In such …
“TDS on Purchase of Goods” - All Questions Answered! - Taxsutra
WebJun 27, 2024 · The relevant provision of Section 7 (2) of the IGST Act is as follows Supply of goods imported into the territory of India, till they cross … WebAug 3, 2024 · High Sea sales (HSS) is accepted under the import trade control regulation. It is a sale carried out by carrier document consignee to another buyer. During this the goods are yet on high seas or after their dispatch from port of loading (POL) and before their arrival at the port of discharge (POD). new plymouth blood testing
All-about the Valuation for Customs Duty under Customs Act
WebMar 8, 2024 · As per New Amendment Act 31, 2024, being Notified by Notification 2/2024, The High Sea sale is included in Schedule III , hence it's neither supply goods nor supply of service. Can be shown in 3B under table 3.1 Non GST outward Supply & in GSTR under table 8. Pankaj Rawat (GST Practitioner) (53458 Points) WebThe Authority for Advance Ruling under GST, Maharashtra in the case of Basf India Limited- 2024-TIOL-82-AAR-GST dated 21st May 2024 has held that goods sold on HSS by the HSS seller is a supply which is not taxable under GST [i.e., non-taxable supply] and is … WebAug 9, 2024 · The goods and services tax (GST) divides all sales into two types of transactions — interstate and intrastate. Imports are treated as interstate sales, which … new plymouth book shops