High sea sales

[THYAGARAJAN KALYANASUNDARAM]

Dear expert,

Can you explain elaborately the position of high sea sales under the GST regime. Thanks iin advance.

AI Summary

High Sea Sales Under GST: IGST Applicable Once, Avoids Dual Payment; Import Duties Still Apply, No GST in International Waters. A discussion on the implications of high sea sales under the GST regime highlights various perspectives. One participant suggests that high sea sales are akin to exports, which can occur with or without GST payment. Another clarifies that under GST, high sea sales attract IGST only once, upon filing the bill of entry, based on the declared value. Prior to GST, high sea sales were used to avoid VAT, but now they help avoid dual IGST payment. Import duties still apply, but no GST is charged on sales conducted in international waters.