Inherited property sale proceeds require capital-gains treatment where ownership is supported by evidence, not suspicion or unverified signature doubt...
Cross-examination of retracted statements is essential where foundational evidence supports a benami allegation and documented funding explanations re...
Capital-goods exemption covers plant-modernisation accessories, while the import restriction applies only to earlier capital-goods components and spar...
Constitutional judicial review permits challenges to ECIRs and connected money-laundering proceedings where coercive action affects fundamental intere...
The Authority for Advance Ruling, Tamil Nadu addressed the issue of GST levy on the sale of goods warehoused in a third-party Free Trade Warehousing Zone (3P FTWZ) to a customer who clears them to a bonded warehouse under the MOOWR Scheme. The FTWZ is part of the SEZ scheme, a Customs bonded warehouse where imported goods are stored without payment of Customs duties until cleared for home consumption. The legal position, even before the amendment to Schedule III of the CGST Act, was that goods stored in a warehouse are not subject to Customs duty or integrated tax until cleared for home consumption. The amendment clarified that such transactions are not considered supplies under GST. Therefore, in this case, where goods are moved from a 3P FTWZ to a bonded warehouse under a sale to an OEM's MOOWR unit, GST is not leviable as it falls under the exemption for the supply of warehoused goods before clearance for home consumption.
The Authority for Advance Ruling, Tamil Nadu addressed the issue of GST levy on the sale of goods warehoused in a third-party Free Trade Warehousing Zone (3P FTWZ) to a customer who clears them to a bonded warehouse under the MOOWR Scheme. The FTWZ is part of the SEZ scheme, a Customs bonded warehouse where imported goods are stored without payment of Customs duties until cleared for home consumption. The legal position, even before the amendment to Schedule III of the CGST Act, was that goods stored in a warehouse are not subject to Customs duty or integrated tax until cleared for home consumption. The amendment clarified that such transactions are not considered supplies under GST. Therefore, in this case, where goods are moved from a 3P FTWZ to a bonded warehouse under a sale to an OEM's MOOWR unit, GST is not leviable as it falls under the exemption for the supply of warehoused goods before clearance for home consumption.
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