Centre clears double taxation under GST kept in bonded warehouses

The indirect tax department has settled the issue of double taxation under the Goods and Services Tax (GST) on imported goods kept in bonded warehouses and later cleared from there, which is a common trade practice in the country.  An earlier circular raised an issue of imposition of the Integrated GST (IGST) twice on such transactions. If a company imports goods and keeps these in a Customs-bonded warehouse, it has to pay IGST. And, again, when the goods are cleared for final sale.  Devashish Polymers took the matter to the high court (HC) here; it is still there. Howeve.....

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