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High sea sales :Exempted supply?

The Impulsive Shop (43 Points)

11 April 2019

what is nature of high sea sales??

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URVI (TAX CUNSULTANT) (214 Points)
Replied 11 April 2019

it's inter-state transaction ..clarified vide circular no- 33/2017 - costoms dated 1st August 2017

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prasad Nilugal ( GST Practitioner & Accounts ) (14658 Points)
Replied 11 April 2019

When Goods were sold before it reaches Custom frontier or Indian territory called high sea sales .

The Impulsive Shop (43 Points)
Replied 11 April 2019

but is it exempted supply ???

Pratik Surve (Assistant Professor ) (571 Points)
Replied 11 April 2019

YES, IT COMES UNDER ZERO RATED SUPPLY

Pankaj Rawat (GST Practitioner) (55047 Points)
Replied 12 April 2019

As per New Amendment Act 31 of 2018 & the was Notified by Notification 2/2019 CT , the High Sea Sale has been brought Under Schedule III,
So it's neither treated as supply of Goods nor supply of services.

Note:
As per Amendment Act , the section 17(3) of CGST Act it is being clarified that "Value of Exempted Supply" for the purpose of reversal of ITC shall not include the value of activities specified in Schedule III , Except Entry No.5 of said schedule.

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The Impulsive Shop (43 Points)
Replied 12 April 2019

thanks a lot Mr pankaj your answers are precise thank you so much

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