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of <h1>IGST/GST Applies to Goods Sold in Customs Bonded Warehouses; Transactions Considered Inter-State Supply Under CGST Act.</h1> The circular addresses the applicability of IGST/GST on goods transferred or sold while deposited in a customs bonded warehouse. Under the Customs Act, importers can transfer ownership of warehoused goods without paying customs duty until ex-bonding. The sale or transfer of these goods is considered a 'supply' under the CGST Act and is subject to IGST as an inter-State supply. The customs duty, including IGST, is levied at ex-bonding based on the value determined at import. The circular clarifies that such transactions may involve additional taxable events before the goods are cleared for home consumption or export.
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