ITC on clearing agents bills for high seas sales eligibility

[Madhavan iyengar]

Where goods are purchased and sold on highseas basis ( which is treated as no supply post 01/02/2019) is the GST credit of clearing agent charges, eligible to be taken

AI Summary

Debate on ITC Eligibility for Clearing Agent Charges in High Seas Sales Under GST; Impacts of Section 17 and Schedule III A discussion on a forum addresses the eligibility of Input Tax Credit (ITC) on clearing agent charges for high seas sales under the Goods and Services Tax (GST) framework. The initial query questions whether ITC can be claimed when high seas sales are considered 'no supply' post-amendment. One participant argues that ITC is eligible since clearing agent services are independent of the 'no supply' classification. Another concurs, citing changes in Section 17 and Schedule III, which exclude certain transactions from being considered exempt supplies. The discussion highlights the complexity of ITC eligibility in the context of high seas sales.