Eye Share : Sale from Bonded Warehouse - Taxability under GST

CBEC vide Circular No. 46/2017-Cus clarified that transfer / sale of warehoused goods by an importer to any other person would fall within definition of “supply” and therefore, be taxable as an ‘inter-state’ supply u/s 7(2) of IGST Act. It was further clarified that levy of customs duty (i.e. BCD and applicable IGST payable under the Customs Tariff Act) shall be deferred and collected only at the ex...