High sea sales

[THYAGARAJAN KALYANASUNDARAM]

Dear expert,

Could you explain where do we show the high sea sales transaction. Since we will charge any tax on the transaction.

Thanks in advance.

AI Summary

Guidance on Reporting High Sea Sales Under GST: Subject to IGST and Customs Duties, Report in GSTR-2 Column 5. A participant inquired about the reporting of high sea sales transactions under the Goods and Services Tax (GST) framework, noting that no tax is charged on such transactions. Responses clarified that high sea sales are treated as imports and are subject to Integrated GST (IGST) in addition to customs duties. It was suggested that these transactions be reported under Column 5 of GSTR-2 or in the B2B outward supply sheet. There was also a query about treating these sales as exempt, but clarity was sought on the specifics of the question.