08 March 2018
How to show Sale in Course of Import / High Sea Sales in GSTR1?
Case:
Party A Goods Imported in India and kept in FTWZ. Party A then made a contract with Party B and Party B cleared the goods from FTWZ under Bill of Entry in their name. Thus original Inbound Clearance from Port to FTWZ is done by Party A whereas Outbound Clearance i.e. for Home Consumption is done by Party B by doing Bill of Entry and paying IGST.
Now Party A wants to bill Party B whether there will IGST on such Sale ? How to show this transaction in GSTR1 ?
09 March 2018
In my views ...High sea sales will not be effected by GST. Party A will not bill to Party B a tax invoice charging IGST. As under High sea sales it the last person who clears the goods from the customs is liable to pay IGST.
CAclubindia
