It is clarified that integrated tax shall be levied and collected at the time of final clearance of the warehoused goods for home consumption i.e., at the time of filing the ex-bond bill of entry and the value addition accruing at each stage of supply shall form part of the value on which the integrated tax would be payable at the time of clearance of the warehoused goods for home consumption. In other words, the supply of goods before their clearance from the warehouse would not be subject to the levy of integrated tax and the same would be levied and collected only when the warehoused goods are cleared for home
consumption from the customs bonded warehouse.
This Circular would be applicable for the supply of warehoused goods. While being deposited in a customs bonded warehouse, on or after the 1st of April, 2018.
Circular No. 3/1/2018-IGST – Dated 25-05-2018
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