13 September 2019
In case of Supply of goods from a place in the non-taxable territory to another place in the non-taxable territory without such goods entering into India, the same will not be treated as supply w.e.f. 01.02.2019 and therefore, proportionate ITC under Rule 42 is not required to be revered from 01.02.2019. Whether, in case of ‘High Sea Sale’ also same logic is to be applied and no ITC reversal or even today also proportionate ITC is required to be reversed for High Sea Sale by the first importer who is selling the goods when they are on high seas?
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