GST on Supply of goods while same are in Customs Bonded Warehouse – Part III

Chennai Customs wants to have it both ways.Insist on IGST payment from the transferor at the time of transfer demanding proof of payment for allowing clearance from the warehouse as the Circular 46 is still alive And collect IGST on the sale price on the ex bond bill of entry from the transferee-even before the Finance Act is passed! No end to the ingenuity of the tax collector.And we may expect another circular from CBEC to make tax payers go around In circles till they drop dead.

RL Narsimhan 13/02/2018