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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>IGST Applicable on Goods Sold in Customs Bonded Warehouses; Tax Due on Inter-State Supplies Before Clearance.</h1> The circular addresses the applicability of Integrated Goods and Services Tax (IGST) and Goods and Services Tax (GST) on goods transferred or sold while stored in customs bonded warehouses. It clarifies that while customs duty is levied at the ex-bonding stage based on the value determined at import, any sale or transfer of ownership of the warehoused goods before clearance constitutes a taxable supply under the GST regime. This transaction is subject to IGST as an inter-State supply, with the tax liability determined by the CGST and IGST Acts. Customs duties remain deferred until goods are ex-bonded.
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