Applicability of Integrated tax on goods supplied while being deposited in a customs bonded warehouse
The Central Board of Indirect Taxes and Customs Vide Circular No 3/1/2018 –IGST dated 25th May 2018 had clarified that integrated tax shall be levied and collected on goods imported and stored in customs bonded warehouse at the time of final clearance of the warehoused goods for domestic consumption and at the time of filing
the ex-bond bill of entry.It is also clarified that this circular is applicable for Supply of Warehoused goods i.e., deposited in a customs bonded warehouse, on or after the 1st of April, 2018