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 ?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
