https://www.taxtmi.com/caselaws?id=467111 A first time arrival Indian flag vessel entering territorial waters for loading or unloading is treated as import/home consumption, requiring filing of an arrival/import manifest and bill of entry and attracting customs duties. The vessel qualifies for the HSN based basic customs duty exemption under the applicable notification entry but does not qualify for lease/transfer exemptions; IGST on import applies under the IGST rate notifications. The entry event constitutes a taxable supply for IGST purposes and the importer is liable to pay IGST under the notified rate subject to applicable conditions. en-us Wed, 31 Jul 2024 00:00:00 +0530 Fri, 06 Mar 2026 20:54:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467111 A first time arrival Indian flag vessel entering territorial waters for loading or unloading is treated as import/home consumption, requiring filing of an arrival/import manifest and bill of entry and attracting customs duties. The vessel qualifies for the HSN based basic customs duty exemption under the applicable notification entry but does not qualify for lease/transfer exemptions; IGST on import applies under the IGST rate notifications. The entry event constitutes a taxable supply for IGST purposes and the importer is liable to pay IGST under the notified rate subject to applicable conditions. Case-Laws Customs Wed, 31 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467111