Sale in course of import / high sea sales in gstr1
This query is : Open
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 ?
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.
As under High sea sales it the last person who clears the goods from the customs is liable to pay IGST.
09 March 2018
Yes indeed ! But there will be a Invoice made from Party A to Party B. The question is how to show this in GSTR1 ?
As a Non-GST Sale or Exempt Sale ?
As a Non-GST Sale or Exempt Sale ?
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