XYZ (Japan) will be selling the goods to PQR(India) i.e. Invoice of XYZ will be on PQR. PQR further issues an Invoice on ABC (India)). ABC will be further selling the goods / issuing the invoice on EFG (Sri Lanka). However, the goods will be physically moved from XYZ(Japan) to EFG (Sri Lanka). Will this be treated as an export for PQR and whether PQR had got any GST liability on this?
Menu
Place of Supply
Replies (5)
Quick Summary
I think this will be considered as export by ABC.
It is goods on the vehicle the transaction covered under high sea sales
No...... it not being Export .
In term of Section 7 of IGST Act , goods neither cross the frontier of Indian Custom & As per Section 2(5) of IGST Act , export means taking goods out of India , but since the goods never came to India & hence there is no question of Export arises.
So it's is Merchant trading cover under Schedule III , neither the supply of Goods nor Supply of Services.
In term of Section 7 of IGST Act , goods neither cross the frontier of Indian Custom & As per Section 2(5) of IGST Act , export means taking goods out of India , but since the goods never came to India & hence there is no question of Export arises.
So it's is Merchant trading cover under Schedule III , neither the supply of Goods nor Supply of Services.
It is High sea transaction no gst applicable
DEAR SUNIL
ITS NOT HIGH SEA SALE. THERE IS DIFFERENCE BETWEEN MERCHANT TRADING & HIGH SEA SALE.
IN HIGH SEA SALE : THE GOODS COME TO INDIA BUT IT IS BEING SOLD BEFORE IT REACHES THE CUSTOM FRONTIERS.
MERCHANT TRADING : THE GOODS NEVER GET ENTER INTO INDIA
Recent Topics :
- GST Reconciliation Tool (2A vs Books) - looking fo
- TDS ON PF FORM 19 WITHDRAWAL
- Can a virtual office in Mumbai be used for company
- Eway and e invoicing in condition where 4 party ar
- Bank balance in ITR-3
- INCLUDING PROFITS FROM REIT / INVIT IN SHARE TRADI
- Tempsens Instruments IPO GMP Allotment Listing dat
- Upload Type - Correction. Not showing in TDS filli
- Partnership tax audit query
- ERROR SHOWING PARTNER REMUNERATION ITR 3 TIME OF V
Related Topics :
CAclubindia
