https://www.taxtmi.com/caselaws?id=448303 AAR Gujarat ruled on GST applicability for high seas sale transactions between two companies under a work contract. The Authority held that high seas sale transactions fall under Schedule III of CGST Act and are neither supply of goods nor services, thus exempt from GST. However, the value of imported goods supplied on high seas sale basis must be included in the transaction value for computing GST on work contract services, as the contractor is contractually bound to supply both goods and services under the agreement. en-us Fri, 05 Jan 2024 00:00:00 +0530 Fri, 25 Apr 2025 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448303 AAR Gujarat ruled on GST applicability for high seas sale transactions between two companies under a work contract. The Authority held that high seas sale transactions fall under Schedule III of CGST Act and are neither supply of goods nor services, thus exempt from GST. However, the value of imported goods supplied on high seas sale basis must be included in the transaction value for computing GST on work contract services, as the contractor is contractually bound to supply both goods and services under the agreement. Case-Laws GST Fri, 05 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448303