Overseas Purchase and Sale of Goods.

101 views 3 replies
Hello

GST treatment for the goods purchased outside India and sale of same goods outside India by Indian company without entering or crossing the Indian Territory.


Thanks
Replies (3)
It is High Sea Sale
Earlier the reversal of ITC was required in respect of such supply as it was treated as non-taxable supply, also the AAR, Maharashtra in the case of BASF India Limited held the same view. However amendment in Schedule III notified with effect from 01 Feb 2019 High Sea Sale is not to be treated as supply and accordingly should not be treated as exempt supply and thereby require reversal of ITC of inputs.
As per schedule III of the CGST act 2017 , Goods purchase and sold out side Indian Territory , will be treated as a nither supply good nor services .
It will treated as non gst supply of goods.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register