IGST applies when ownership of imported goods in a bonded warehouse is transferred before ex-bond clearance. Transfers or sales of imported goods deposited in a customs bonded warehouse before clearance constitute a supply and, being before goods cross the customs frontier, are treated as inter-State supplies subject to IGST; the value of such supply is determined under the CGST/IGST valuation provisions and IGST is payable notwithstanding that customs duties remain deferred and are collected later at ex-bonding on the value fixed under the Customs Act.
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.
IGST applies when ownership of imported goods in a bonded warehouse is transferred before ex-bond clearance.
Transfers or sales of imported goods deposited in a customs bonded warehouse before clearance constitute a supply and, being before goods cross the customs frontier, are treated as inter-State supplies subject to IGST; the value of such supply is determined under the CGST/IGST valuation provisions and IGST is payable notwithstanding that customs duties remain deferred and are collected later at ex-bonding on the value fixed under the Customs Act.
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