Assessable value for IGST and GST cess: higher of statutory valuation or declared sale price applies on ex bond clearances. Revised valuation for Ex Bond clearances requires importers to declare warehouse sales in the Ex Bond Bill of Entry using flag 'S' and RSP fields; the ICES will compute IGST and GST Compensation Cess using the higher of the statutory valuation or the declared sale price when importer details differ between warehousing and Ex Bond entries.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Assessable value for IGST and GST cess: higher of statutory valuation or declared sale price applies on ex bond clearances.
Revised valuation for Ex Bond clearances requires importers to declare warehouse sales in the Ex Bond Bill of Entry using flag "S" and RSP fields; the ICES will compute IGST and GST Compensation Cess using the higher of the statutory valuation or the declared sale price when importer details differ between warehousing and Ex Bond entries.
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