IGST would apply on goods transferred or sold from custom bonded warehouse: CBEC

Circular No. 46 /2017 - Customs   References have been received from the trade regarding levy of IGST/GST on sales of goods deposited in a customs bonded warehouse. 2. Ch IX of the Customs Act provides for deposit of goods into a customs bonded warehouse licensed under section 57 or 58 or 58A without payment of duty and the procedures to be followed with resp ect to the warehoused goods.…