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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>IGST to Be Levied Once on High Sea Sales of Imported Goods; Value Added Included in Calculation.</h1> The circular addresses the applicability of Integrated Goods and Services Tax (IGST) on high sea sales of imported goods. High sea sales occur when the original importer sells goods to a third party before customs clearance. The GST Council decided that IGST on such transactions will be levied only once at the time of importation, when import declarations are filed for customs clearance. The value added during each high sea sale will be included in the IGST calculation. Importers must provide documentation to establish the transaction chain, and customs authorities may verify declared values. Field formations are advised to follow these guidelines.
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