As we all are aware about the term "High Sea" where original buyer sells off the goods to other one or more persons subsequently before its actually hit the custom ports of the country.
As per the provisions of subsection (12) of section 3 of Customs Tariff Act, 1975 which already has mentioned that the obligation related to the person who lastly present the documents for the clearance from ports from the authorities needs to present all documents CHAIN covering original invoice, high seas contract, commission on the high seas transactions etc and hence the combined value will attract IGST being the import transactions are to be treated as INTER -STATE sales.
Hence clarifying this concept, the CBEC has issued the circular dated 01 Aug 2017 -http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-circulars/cs-circulars-2017/circ33-2017cs.pdf
It has now been clarified that only the final value at the time of presenting documents for clearance will attract IGST covering all values upto the time. There will not be any DOUBLE IGST on such transactions.
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As per the provisions of subsection (12) of section 3 of Customs Tariff Act, 1975 which already has mentioned that the obligation related to the person who lastly present the documents for the clearance from ports from the authorities needs to present all documents CHAIN covering original invoice, high seas contract, commission on the high seas transactions etc and hence the combined value will attract IGST being the import transactions are to be treated as INTER -STATE sales.
Hence clarifying this concept, the CBEC has issued the circular dated 01 Aug 2017 -http://www.cbec.gov.in/resources//htdocs-cbec/customs/cs-circulars/cs-circulars-2017/circ33-2017cs.pdf
It has now been clarified that only the final value at the time of presenting documents for clearance will attract IGST covering all values upto the time. There will not be any DOUBLE IGST on such transactions.
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