Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
GST - Highlights / Catch Notes

Home Highlights July 2018 Year 2018 This

Levy of IGST - High Seas Sale - Goods purchased from overseas ...


No IGST on High Seas Sales; Input Tax Credit Must Be Reversed for In-Transit Goods Sales Before Customs Clearance.

July 2, 2018

Case Laws     GST     AAR

Levy of IGST - High Seas Sale - Goods purchased from overseas related party situated abroad based on purchase order received from its customers and sold when in transit to its customers before the goods are entered for customs clearance in India - NO IGST - However, ITC is required to be reversed.

View Source

 


 

You may also like:

  1. Reversal of Input Tax Credit - inputs consumed in dye intermediates (which is also a finished goods), where such goods have been destroyed in fire - - Since the said...

  2. The High Court dismissed the petition, upholding the denial of input tax credit availed on goods purchased by the petitioner for sales promotion of manufactured goods...

  3. Refund - Zero rated supplies - Computation of Turnover - sale of duty credit e-Scrips - Rule 42, Rule 89(4) and Rule 89(4B) of the CGST Act - The relevancy of the...

  4. Input Tax Credit - Reversal / refunding of ITC - the Integrated Goods and Service Tax (IGST) was not paid and ‘NIL’ return had been filed by the seller but the...

  5. Reversal of cenvat credit - It is now a settled proposition that reversal of cenvat credit even after manufacture of the goods and/or clearance thereof amounts to not...

  6. Electronic commerce operators (ECOs) required to pay tax u/s 9(5) of CGST Act for specified services supplied through their platform are not required to reverse...

  7. Input tax credit of GST paid - The applicant is not eligible for availment of input tax credit of GST paid on goods and services for laying of transfer pipeline and the...

  8. Input Tax Credit - solar power panels procured and installed - blocked credit- When Electricity energy manufactured using the Solar Panels were supplied to TANGEDCO...

  9. Reversal of CENVAT Credit - clearance of inputs as such - The appellant is not required to reverse the credit on input services that was taken along with duty paid on such inputs.

  10. Removal of Inputs as such – no need to reverse Cenvat credit availed on Input Services

  11. The appellant, engaged in manufacturing SS Hose Assembly, Flange & Fittings, also procured MS Round, TMT Bars, etc., performed work on them, and cleared them to buyers...

  12. Input Tax Credit - denial of credit capital goods of the unit -2 on the ground that credit cannot be availed before the commencement of commercial production as per...

  13. Utilisation of Input Tax Credit - outward supply of Gold & Silver bullion - The applicant/appellant can use the Input Tax Credit Balance available in its Electronic...

  14. Input Tax Credit - credit was not effected in Form GSTR-2A - If on examination of the evidence submitted by the assessee, the assessing officer is satisfied that the...

  15. Input tax credit - eligibility of benefit of input tax credit claimed after six months from the date of invoice - the Apex court has held that credit is indefeasible....

 

Quick Updates:Latest Updates